6 Mar 2015 07:00
For immediate release
6 March 2015
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Auction Update
Minds + Machines Group Limited (AIM:MMX), the publicly quoted owner and operator of Internet top-level domains, is pleased to announced that the Company has gained, in aggregate, net proceeds of US$1.68 million (approximately £1.1 million) following the withdrawal of its applications for .app, .soccer, and .beauty..app was settled via an ICANN auction where the proceeds from the auction are provided directly to ICANN and not any of the auction participants, as with a private auction. The cash to the Group is net of auction fees and includes refunds that the Company will receive from ICANN for withdrawing its applications.
Separately, the Company's client, dotBeauty LLC, has elected to withdraw its application for .casino following a private auction held late December 2014. The Company received no funds in relation to this.
Antony Van Couvering, CEO of Minds + Machines, commented:
"We continue to take a disciplined and focused approach to maximising shareholder value from our portfolio of contested applications. We look forward to resolving, to our best advantage, the remaining 9 applications in which we have a commercial interest that are either contested or subject to community priority evaluation during the remainder of H1."
The directors are also pleased to confirm that the introduction of the Group's content management and publishing services to consumers via its registrar operations remains on track for a Q1 phased launch.
Further Information:
Minds + Machines Group Limited
Antony Van Couvering Tel: +1 310 452-1491
Beaumont Cornish Limited (Nomad) Tel: +44(0)20 7628 3396
Roland Cornish / Michael Cornish
N+1 Singer (Broker)
Shaun Dobson/Ben Wright Tel: +44 (0)20 7496 3000
gth media relations
Toby Hall Tel: +44(0)20 7822 7493 / +44 7713 341072
For further information, please go to http://investors.mindsandmachines.com
About Minds + Machines
Minds + Machines (LSE:MMX) is a leading owner and operator of new generic Top Level Domains ("gTLDs"), and provides registry services to a range of high-profile clients. The Group also provides domain name services to consumers through its wholly owned registrar operations in the US and Europe. For more information on Minds + Machines and its services and companies within the Group, please go to http://investors.mindsandmachines.com.
ENDS