Minds + Machines Share Discussion Threads

[la forge] 11/8/2021 17:33

11 August 2021

For release at 07.00, 11 August 2021

Minds + Machines Group Limited

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

Completion of Sale of Assets to Registry Services, LLC (an affiliate of GoDaddy Inc.)

Minds + Machines Group Limited (AIM:MMX), the top-level domain ("TLD") registry company, is pleased to announce that it has completed the sale of its TLDs and related assets and transferred its rights and obligations under contracts relevant for the operation of the assets to Registry Services, LLC ("GoDaddy Registry"), an affiliate of GoDaddy Inc. , pursuant to the asset purchase agreement dated 7 April 2021 for proceeds as set out in the agreement.

As previously announced, beginning today and continuing until no later than 31 January 2022 , MMX will provide certain transition services to GoDaddy Registry (the "Transition Services"). The Transition Services are being provided to facilitate transition of the a ssets to GoDaddy Registry. GoDaddy Registry will reimburse MMX for the costs in providing the Transition Services, including the costs of relevant employees. For further details regarding the Transition Services please see the announcement of the Company dated 8 April 2021.

[la forge] 11/8/2021 17:32

11 August 2021

For release at 07.01, 11 August 2021

Minds + Machines Group Limited

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

Shareholder Update, Tender Offer and Notice of Results

Following completion of the sale of the majority of its TLDs ("Completion"), as announced this morning, Minds + Machines Group Limited (AIM:MMX), the top-level domain ("TLD") registry company, is pleased to provide an update to its shareholders.

On Completion, MMX received US$113.8 million, plus adjustments for working capital that transferred with certain subsidiaries. A further US$13.3 million was paid into escrow pursuant to the asset purchase agreement dated 7 April 2021. On Completion, 25 of the Company's 28 TLDs transferred to the purchaser . Final approvals for the transfer of the .miami and .boston TLDs remain pending. These two TLDs will automatically transfer when the approvals are received and a further US$1.4 million will be received by MMX from escrow at that time. The remaining US$11.9 million will remain in escrow until 31 March 2022. The Company's interest in the .Country TLD was separately sold prior to Completion and therefore was not included in the transaction.

In the period from 1 January 2021 through 10 August 2021, MMX continued to operate its TLDs and reap the benefits of the cost savings introduced at the end of 2021. The cash generated through this period plus the Group's working capital at the end of 2020 increases the net assets of the Company beyond the cash received on Completion .

Continuing Activities

Beginning today and continuing until no later than 31 January 2022, MMX will provide certain transition services to facilitate transition of the assets. MMX will be reimburse d for the costs in providing the Transition Services, including the costs of relevant employees.

In addition, the Company will be working with its partners to transfer its remaining registry back-end services to other service providers, completing regulatory filings and winding down its various subsidiaries. The costs of these activities and the Company's ongoing PLC costs are not covered under the Transition Services agreement.

Updated Net Asset Value ("NAV") and Tender Offer

The proceeds received on Completion, plus those amounts held in escrow and the cash generated by MMX through the Completion date, represents an implied NAV of approximately 9.6 pence per Ordinary Share (based on the current Exchange Rate of GBP:US$ of 1:1.38). This estimate includes a provision for estimated transaction costs (including estimated taxes payable by the Company), and the Group's ongoing operating costs not covered by the Transition Services agreement.

Following consultation with the Company's major shareholders, the Directors have approved a return of capital by way of a Tender Offer totalling US$ 80.0 million to be completed in early autumn to provide an initial return of the Group's net assets to shareholders. Further details of the Tender Offer will be announced separately and as soon as practicable.

Notice of Results

The Company also announces that it will be publishing its unaudited Interim Results for the six month period

ended 30 June 2021 on 27 September 2021.

[eezymunny] 11/8/2021 17:01

Old rope = money

[transhoneyqueens] 11/8/2021 14:21

banking huge profits today

[grupo] 08/8/2021 11:56

28 July 2021

Minds + Machines Group Limited

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

ICANN Approval of Sale of Assets to Registry Services, LLC and Extension of Longstop Date

Minds + Machines Group Limited (AIM:MMX), the top-level domain ("TLD") registry company, is pleased to announce that it has received ICANN approval for the transfer of the majority of the Company's 27 TLDs and related assets to Registry Services, LLC ("GoDaddy Registry"), an affiliate of GoDaddy Inc., pursuant to the asset purchase agreement dated 7 April 2021 (the "Asset Purchase Agreement"). The Company and GoDaddy Registry continue to work with ICANN and MMX government partners to obtain the necessary consents to transfer the remaining TLDs and related assets. All other conditions precedent for the transfer of these TLDs have been completed. MMX expects to complete the material procedural processes within the next two weeks; therefore, MMX and GoDaddy agreed to extend the longstop date from 7 August 2021 to 23 August 2021.

Tony Farrow, CEO of MMX, commented:

"The Board is delighted to have reached this stage in the sale of MMX's assets to GoDaddy Registry and thanks its commercial and government partners and ICANN for their support in approving this transaction. We look forward to completion of the transfer of our assets to GoDaddy Registry."

[la forge] 20/7/2021 13:52

15 July 2021

Minds + Machines Group Limited

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

ICANN approves transfer of substantially all of the Company's TLDs to Registry Services, LLC (an affiliate of GoDaddy Inc.)

Further to the announcement dated 8 April 2021, Minds + Machines Group Limited (AIM:MMX), the top-level domain registry company, is pleased to announce that it has received consent from the Internet Corporation for Assigned Names and Numbers ("ICANN") to transfer four top-level domains ("TLDs") and conditional consent to transfer 18 other TLDs owned and operated by MMX to Registry Services, LLC ("GoDaddy Registry"), an affiliate of GoDaddy Inc. The conditions necessary for final approval by ICANN of the transfer of the 18 conditionally approved TLDs have been completed by MMX and GoDaddy Registry. All other conditions precedent for the transfer of these TLDs have been completed.

When MMX and GoDaddy Registry receive final approval from ICANN to transfer the 18 conditionally approved TLDs, MMX will complete the transfer of all 22 TLDs to GoDaddy Registry.

MMX is awaiting ICANN approval and, where necessary, receipt of formal consents from certain of its partners to complete the transfer of the remaining five TLDs. The Company and GoDaddy Registry expect to complete the transfer of these TLDS once these approvals and consents have been received. MMX will make a further announcement on completion of these transfers and closing of the transaction.

[jackson83] 28/6/2021 14:27

Sunday sold out over a year ago

[hotaimstocks] 26/6/2021 15:08

sundaysun has left the building

[hotaimstocks] 25/6/2021 21:28

billion pound company within 40 yrs lol

[jackson83] 24/6/2021 22:57

nothing going happen until next year now

[effortless cool] 24/6/2021 11:12

Lombard have been persistent buyers since the sale of assets was announced. Given the connection with the NED, I see that as a positive.

[sarkasm] 24/6/2021 10:33

Not a lot it seems as no share movement

[bb123] 24/6/2021 10:28

Please can y help explain what this announcement means to share holders?
Cheers