Minds + Machines Group Limited Directorate Change and Notice of Results Update (6743P)

TIDMMMX

RNS Number : 6743P

Minds + Machines Group Limited

22 February 2016

For immediate release

22 February 2016

Minds + Machines Group Limited

("MMX", the "Company" or "Group")

Directorate Change and Notice of Results Update

Minds + Machines Group Limited (LSE:MMX), the publicly quoted owner and operator of Internet top-level domains, announces that Antony Van Couvering is no longer the Chief Executive Officer of the Company. Mr Van Couvering was removed from office with immediate effect by means of a unanimous resolution of directors passed at a meeting of directors held on 19 February 2016. The Group is currently making the transition from asset gatherer to monetisation of its leading portfolio of top-level domains; the Board believes a change of leadership will assist in this process. As such, the Board is delighted that the Company's Chief Marketing Officer, Toby Hall, has, subject to regulatory approvals, accepted the Company's offer to take on the role of Chief Executive and lead the Group during this important period. Toby will join the Board in that capacity at the first Board meeting post completion of the requisite regulatory approvals at which point a further announcement will be made.

Guy Elliott, co-founder and non-executive Chairman, commented:

"The Board wishes to thank Antony for the tremendous domain industry insight he has brought to the business in its formative years. Whilst he has contributed greatly to the business's development, the Board felt that a fresh approach is required in order to fully exploit the revenue potential of our leading portfolio of TLDs. As such, the Board is delighted that our Chief Marketing Officer has accepted the role of CEO to work alongside our Chief Operating Officer, Michael Salazar. Toby brings a vision, dynamism, business acumen and commercialism, together with a deep understanding of the industry, having been an adviser to the Group since its inception."

Toby Hall, the newly appointed CEO, said:

"We are operating in a sector of significant growth and opportunity. As a portfolio registry player, we are exceptionally well placed to reach into markets - both geographic and vertical - through a strategy of partnership. It is a strategy that will allow us to drive growth while maintaining a tight control on costs."

Separately, further to the announcement of 2 February 2016, the Board confirms the Group's annual report and accounts for the 12 months ended 31 December 2015 will be announced on 27 April 2016.

Further Information:

Minds + Machines Group Limited

   Toby Hall                                                          Tel: [phone] 

[e-mail]

   Michael Salazar                                                  Tel: [phone] 

[e-mail]

N+1 Singer (Nomad and Broker)

   Shaun Dobson / Liz Yong                                 Tel: [phone] 

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

This information is provided by RNS

The company news service from the London Stock Exchange

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February 22, 2016 02:01 ET (07:01 GMT)