26 Feb 2016 17:30
For immediate release
26 February 2016
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Close Period Buy-back Programme
Minds + Machines Group Limited (AIM:MMX), the publicly quoted owner and operator of Internet top-level domains, will enter into a close period in respect of its annual report and accounts for the 12 month period ended 31 December 2015 on 27 February 2016 (the "Close Period"). The Company announces that it has entered into an irrevocable and non-discretionary arrangement with its broker, Nplus1 Singer Advisory LLP ("N+1 Singer") to buy-back ordinary shares and/or depositary interests (together "Ordinary Shares") during the Close Period within certain pre-set parameters (the "Close Period Programme").
N+1 Singer is authorised to make purchases on the Company's behalf from 29 February 2016 until the end of the Close Period, being the date of publication of the Company's Annual Report and Accounts for the year ended 31 December 2015. During the Close Period the Company has no power to invoke any changes to the authority and any purchases will be undertaken by N+1 Singer, acting independently of, and uninfluenced by the Company.
Any purchases of Ordinary Shares pursuant to these arrangements will be carried out within the limitations of the share purchase programme announced on 22 September 2015 as amended on 3 February 2016. The Company will continue to make all purchases in relation to the buy-back on market, and intends that all Ordinary Shares repurchased will be cancelled. The Company will announce any market repurchases by 7.30 a.m. on the business day following the repurchase.
As a result of reduced liquidity in the Company's Ordinary Shares, the maximum daily volume of Ordinary Shares purchased by Company may materially exceed 25% and/or 50% of the average daily volume of the Ordinary Shares traded on the Exchange in the 20 trading days preceding the date of purchase. Should a repurchase exceed either the 25% or 50% levels, such repurchase is likely to represent a significant proportion of the daily trading volume on the Exchange.
The Company confirms it currently has no unpublished price sensitive information.
Further Information:
Minds + Machines Group Limited
Toby Hall Tel: +44 (0)7713 341072
toby@mindsandmachines.com
Michael Salazar Tel: +1 (424) 214-7908
michael@mindsandmachines.com
N+1 Singer (Nomad and Broker)
Shaun Dobson / Liz Yong Tel: +44 (0)20 7496 3000
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 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