25 May 2017 07:00
Strictly embargoed until: 07.00 25 May 2017
Minds + Machines Group Limited
("MMX" or the "Company")
Appointment of adviser - Initiation of Strategic Review
Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("gTLDs"), announces that following a number of informal approaches from external parties, the Board has appointed US investment banking firm, Headwaters MB, to review the various strategic options open to the Company to maximise value for shareholders.
MMX has been restructured successfully by the new management team into a profitable business with an increasing recurring revenue stream, a world class asset base, and one of the strongest footprints in Asia following the launch of .VIP and the subsequent MIIT approval in China.
During the last 18 months, the new generic top-level domain market has experienced unprecedented growth and trading by the Company has, and continues to, reflect this. Registrations are up over 40% year to date. The sector remains highly fragmented and the review will explore how strategic options might accelerate shareholder value, in particular whether and how MMX can participate in a broader industry consolidation. The outcome of the strategic review may therefore include, but not be limited to, an acquisition by or sale / merger of the Company.
The Company will make a further announcement to update shareholders on progress of the strategic review when appropriate.
MMX is incorporated and registered in the British Virgin Islands and it is consequently not subject to the provisions of the UK City Code on Takeovers and Mergers.
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For further information:
Minds + Machines Group Limited | |
Toby Hall, CEO | Tel: +44 (0) 7713 341072 |
Michael Salazar, COO/CFO | Tel: +1 (310) 740 7499 |
Headwaters MB Gary Moon, Managing Director and Head of Technology, Media & Telecom
|
Tel: +1 (650) 515-8734 |
finnCap Ltd |
Tel:+44 (0) 020 7220 0500 |
Corporate finance - Stuart Andrews/Carl Holmes/Simon Hicks Corporate broking - Tim Redfern/Camille Gochez | |
Belvedere Communications Limited | Tel: +44 (0) 20 3567 0510 |
John West Kim van Beeck | |
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
About MMX
Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class portfolio of top-level domain assets (gTLDs). As a sales and marketing-led registry business, we are focused on commercializing our portfolio in partnership with our expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding international network of registrars and distribution partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more information on MMX, please visit www.mmx.co
About Headwaters
Headwaters MB is an independent, middle market investment banking firm providing strategic merger and acquisition advice, capital raising and special situations advisory. Named "Investment Bank of the Year" by major industry organizations for its third year in a row, Headwaters MB is headquartered in Denver, CO, with seven regional offices across the United States and partnerships with 18 firms covering 30 countries. For more information, visit www.headwatersmb.com.