! x quarterly Review, questions answered (1)21 May 2020 12:00
Some questions answered
How is shareholder value delivered? ………………“As indicated at the Year End, the Board will re-consider the dividend in September but in the interim we are operating the buyback as we see value at the current levels – hence the recent purchase and cancellation of some 16m shares earlier this month.”
How are we performing against our peers in the sector? When Elliot Noss says The domain business has seen a remarkable and immediate impact on domain registrations – they are way up – a significant bump in transactions, would you agree with Elliot Noss…….. “Yes, as we indicated in the Current Trading section of our Year End results in March, and repeated May 4th 2020, we are seeing ‘healthy trading’ through our automated online retail partners.”
We would like quarterly reports on our trading……… “Respectfully, we do provide quarterly updates – a full year trading update including Q4 in January, a Q1 update as part of the Year End results which now will be typically be released late March, an H1 trading update in July and a Q3 update as part of the interim results in September.” ………………..Could the reports on Q1 and Q3 be a little more fulsome Toby? “Noted”
SJL. We have accounted for all SJL’s share sales except some 22 million unaccounted for, who owns them? ………. “They are all now held by long term Institutional Investors.”
Do you consider SJL’s sale as a negative for the business moving forward “Absolutely not – it should be taken as a positive that all the shares were purchased in the open market by institutional investors who understand the long-term strategy of the business.”
When will we have the AGM? ........ “We are currently reviewing our options on how best to hold the AGM given the current social distancing requirements and will update the market when a date and format has been set.”
When can we expect .dds and .budapest to be launched? “Currently not a priority, as one is caught in an ICANN process.”
Why are people selling at 6p? …… “A very good question, we are progressing to plan, are experiencing healthy trading, have a strong balance sheet and see value at these prices, hence why we recently extended our buy-back authorities”.
How is Adult-block selling? ………. “This is an IP brand protection sold through our corporate registrar partners, and for the initiation of sales to existing Sunrise B holders is reliant on key partners activating their sales activity to their base. Once activated, this is a high margin product with a likely high renewal profile. We continue working closely with those partners targeted for 2020 activation ahead of the 2021 natural renewal period for the original product, to see how they can benefit in much the same way as the early bird registrars did in Q4 2019. That said, as indicated in the Year End results, we have to remain mindful of the priorities of our registrar partners in the current COVID environment and continue to work closely with them during this period.”
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