17 Jun 2014 07:00
For immediate release
17 June 2014
Minds + Machines Group Limited
("MMX", the "Company" or "Group")
Private auction update
.fashion win
Minds + Machines Group Limited (AIM:MMX), the publicly quoted owner and operator of Internet top-level domains, is delighted to announce that following the recent private auctions among new top-level domain applicants for .cricket, .fashion, .pizza, .restaurant, .coupon and immo, the Group has secured the uncontested application rights for .fashion.
The Group has also gained in aggregate approximately £250,000 in cash based on the monies received by the Group from the winning bidders for .cricket, .pizza, .restaurant, .coupon and immo, and the amount paid by Minds + Machines for .fashion. This figure is net of auction fees and includes the refunds that the Company will receive or has received from ICANN for withdrawing its applications for .cricket, .pizza, .restaurant, .coupon and .immo.
Fred Krueger, Chairman of Minds + Machines, commented:
"We consider .fashion a major win and expect that existing fashion brands, aspiring designers, retailers, consumers and entrepreneurs will naturally gather around the .fashion domain. We look forward to continuing to use the private auction process selectively to secure those domains which we have targeted and which we believe can return the greatest value to shareholders, whilst generating cash from those that we choose to let go."
Minds + Machines has now participated in 18 private auctions for contested domain applications since August 2013 and secured six top-level domains through that mechanism. The Group has, as previously reported, also successfully resolved the contention sets on four other originally contested applications - .fit, .country, .review, and .rugby - taking to 10 the number of originally contested applications where the Group has then secured an interest in the top-level domain. Minds + Machines will continue to use the private auction process wherever possible to maximise the value of the remaining contested applications within its portfolio during the months ahead.
The private auctions for .cricket, .fashion .pizza, and .restaurant took place the week of 24 May 2014, and those for .coupon and immo were held during the week of 9 June 2014.
Further Information:
Minds + Machines Group Limited
North America
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/Suzanne Johnson Walsh Tel: +44(0)20 7822 7493/92
For further information, please go to www.mindsandmachines.com/investors
About Minds + Machines Group Limited
Minds + Machines Group Limited is a publicly traded operating company listed on the AIM market of the London Stock Exchange focused on the new generic top-level domain ('New gTLD') space. Top-level domains, such as .com and .net, are regulated by ICANN. ICANN is currently expanding the number of new generic top-level domains from the current 23 to over 1000 through its 'New gTLD program'. The Group is one of the leading applicants for, and owner and/or operator of, New gTLDs under this programme.
About Minds + Machines' Registry and Registrar operations
Minds + Machines' registry operations are delivered by its wholly owned registry services providers: Minds + Machines Limited (Ireland), which works internationally with commercial organisations, cities, not-for-profits and entrepreneurs to operate New gTLDs; and Minds and Machines Limited (UK), which partners with the official promotional organization for London, London & Partners, to operate the .london New gTLD. In addition, the Group wholly owns Minds + Machines Registrar Limited (Ireland) and Minds and Machines Registrar UK Limited, each an ICANN accredited registrar. Further information on Minds + Machines' registry and registrar operations can be found at www.mm-registry.com and www.mindsandmachines.com, respectively.