Minds + Machines Share Discussion Threads

[jackson83] 08/4/2021 12:33

STRONG BUY ..easy 17% profit ...
we are being sold for $120 million in cash so thats 8.8p ... keep buying as you can buy at 7.5p now and make 17% on this share ... try getting 17% in a bank this year

[waldron] 08/4/2021 12:16

Delayed London Stock Exchange - 04/08 11:58:59 am

7.3 GBX +58.70%

[csmwssk12hu] 08/4/2021 09:12

Can buy £1k at 7.34 and sell £1k at 7.37 never seen that before

[sarkasm] 08/4/2021 09:03

Domain Name Wire | Domain Name News

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Breaking: GoDaddy to acquire MMX, .Club, .Design

by Andrew Allemann — April 7, 2021 Uncategorized 9 Comments

The words "Acquisition News: GoDaddy acquires MMX, .Club, .Design" on a yellow and blue background

GoDaddy (NYSE: GDDY) has acquired 28 new top level domains from MMX, as well as the .Club and .Design top level domains.

The company is paying $120 million for the MMX strings. MMX, a publicly-traded new top level domain company had a market cap of £40 million. The MMX transaction will require shareholder approval and approval from some of MMX’s partners on some of the domains.

MMX’s two largest namespaces are .VIP at 900,000 registrations and .work 650,000 registrations. Somewhat surprisingly, the transaction includes MMX’s adult domains including .XXX.

The acquisition will help MMX get out from the public limelight. The company has struggled to grow registration and revenue numbers over the years as a small public company.

Financial details of the .club and .design transactions were not revealed. .Club was a single-domain TLD operator and .Design was owned by Top Level Design. .club has over 1 million registrations and .design has about 130,000.

GoDaddy entered the domain name registry business with its acquisition of Neustar’s registry business last year.

In addition to acquiring these strings, the company won the backend business for .basketball, rugby, and .ally.

After the acquisitions, GoDaddy will own, manage or operate more than 240 top level domain names.

[sarkasm] 08/4/2021 08:49

Highlights

-- strong strategic rationale to sell to a large, established player in the industry;
-- recommended by the Board; and

-- irrevocable undertakings received which together represent approximately 64 per cent. of the current issued ordinary share capital of the Company, confirming that they shall vote in favour of the Resolution being proposed at the General Meeting.

The Consideration

-- The gross Consideration payable by GoDaddy Registry represents an implied value of approximately 10

pence per Ordinary Share (based on an exchange rate of GBP:USD / 1:1.387 (the "Exchange Rate").

-- After payment of estimated transaction costs (including estimated taxes payable by the Company) ("Transaction Costs"), this represents an estimated net asset value (at the Exchange Rate) of 8.8 pence per

Ordinary Share (the "Estimated Offer Value Per Share").

-- The Estimated Offer Value Per Share includes the value of residual net assets of the Company including distributable cash held by the Company as at 6 April 2021 of approximately US$8,200,000 generated from its current trading activities ("Available Cash").

The Company has undertaken preliminary tax analysis in relation to the proposed asset sale (the "Sale") based on its expectations regarding allocation of the Consideration between the Assets and the estimate of Transaction Costs is subject to change.

Attractive valuation

The Estimated Offer Value Per Share represents a premium of:

-- 92% to the market capitalization of the Company based on the closing share price of Ordinary Shares on AIM on 6 April 2021;

-- 87% to the 20-day volume weighted average price (VWAP) of an Ordinary Share up to and including 6 April

2021; and
-- 78% to the 60-day VWAP of an Ordinary Share up to and including 6 April 2021.

Principal reasons for sale

Following the Company's leadership changes in October 2020, Mr. Tony Farrow (the Company's Chief Executive Officer) and Mr. Bryan Disher (the Company's Chief Financial Officer) conducted a thorough review of the underlying profitability of the business and the contribution of each TLD asset.

As set out in the trading statement in January 2021, the initial conclusions reinforced the view of the Board that the business has strong recurring cash flows but expects limited opportunity for material organic growth beyond the Company's AdultBlock services without fundamental changes. Consequently, the Company needs to consider a multi-year transformation of the Company, further inorganic growth and/or pursuing additional revenue opportunities outside the core business in order to effectively leverage its relatively high fixed costs, or seek a merger or sale of the business.

Tony Farrow, CEO of MMX, commented:

"The Board has continually sought to grow the business both organically and via acquisition to maximise the inherent operational gearing of its fixed overheads, but without significant capital investments, we expect our growth to be in-line with the TLD industry generally. The organic growth of the Company is likely to remain in low single digit percentages for the foreseeable future. The risks of identifying and concluding further acquisitions together with the expansion into unproven revenue streams need to be considered against participating in the ongoing consolidation in the TLD industry.

"The Board was able to consider the approach from GoDaddy Registry as part of its broader strategic review and following a period of robust negotiation and extensive due diligence the Board is pleased to announce and recommend the proposed Sale for a total consideration of $120 million in cash."

[w1lbur01] 08/4/2021 08:48

Bought £1500 @7.22

[csmwssk12hu] 08/4/2021 08:47

Looks like it’s about to tick higher, buy price has gone from 7.01 to now 7.4 for £1k worth

[csmwssk12hu] 08/4/2021 08:43

Strange old world, I seen the same thing a couple of weeks ago on one and it sat about 20% below the bid right up till the end of the day, if you were a mm and people would sell you 8.8p for 7p you would let them too, no doubt it will rise later in the day when they are ready to sell those 7p shares on for 8.5p all imho dyor

[babbler] 08/4/2021 08:34

Offer 8.8p so people sell at 7p. Nice one.

[sarkasm] 08/4/2021 08:27

Delayed London Stock Exchange - 04/08 08:11:00 am

7 GBX +52.17%

[csmwssk12hu] 08/4/2021 08:22

8.8p per share any thoughts on a counter bid?

[andyview] 08/4/2021 08:08

Should be at least 10 imho

Gla

[oldbronze] 08/4/2021 08:07

15p today ?

[andyview] 08/4/2021 08:06

What a result that is, only 7p open though...

[waterloo01] 08/4/2021 07:20

Well done Stuart. shame I didn't follow him.

[hotaimstocks] 07/4/2021 17:51

will we see net profits rise ? no chance of that

[transhoneyqueens] 07/4/2021 17:49

wow share price holding up better today as we await the next acquisition news to help restore hope in this old school bottom draw stock.

[transhoneyqueens] 06/4/2021 08:43

when is the trading update ? will be a good opportunity to short it

[hotaimstocks] 03/4/2021 21:08

we will be lucky if its 2m profit lol ... they need to give the poor share holders all of it so expect a 2.5% dividend or share price will collapse on results RNS next week. the only reason its not crashed is bob hope / miracle special divi on the cards or its a RED FLAG SELL soon.

[transhoneyqueens] 02/4/2021 20:52

I think we will be lucky if we clear £2.4m in profit after the results are known ... we will see as market cap still over valued... RED FLAG

[transhoneyqueens] 02/4/2021 03:06

top up at 2p then lol

[jackson83] 31/3/2021 19:09

SHARE PRICE HOLDING UP WELL SO FAR..
one thing you can guarantee with mmx over the years they hide hidden costs and we are only told what they want us to hear ... its been a great cover up / lifestyle with millions in RED FLAG costs that we know F all how its gone out the back door... ok news and we see 4p or bad news and we will test 3p again

[hotaimstocks] 31/3/2021 13:44

people selling up as worry over more RED FLAGS with the accounts ???? top up at 3p

[transhoneyqueens] 31/3/2021 11:56

looks like we can expect more bad news from this lifestyle money pit share ... top up at 4p orin the 3p's lol after news soon. RED FLAG