Minds + Machines Group Limited .vip MIIT approval (9682Q)
December 05 2016 - 5:27AM
UK Regulatory
TIDMMMX
RNS Number : 9682Q
Minds + Machines Group Limited
05 December 2016
For immediate release: 5 December 2016
Minds + Machines Group Limited
("MMX" or the "Company")
.vip MIIT approval
Minds + Machines Group Limited (AIM:MMX), the publicly quoted
owner and operator of Internet top-level domains, is delighted to
announce that it has today received official approval from the
Ministry of Industry and Information Technology ("MIIT") of the
People's Republic of China for MMX's dot VIP top-level domain. The
announcement was made via the official website of the MIIT.
Approval means that owners of dot VIP domain names within China can
now apply for the relevant local license ("bei-an") to allow their
dot VIP domain names to be hosted in the country. MMX's TLD dot VIP
is one of only three generic new top-level domains ("new gTLDs") to
have received this approval via this MIIT announcement.
Toby Hall, CEO of MMX, commented:
"MIIT approval is a major milestone for MMX and the continued
successful development of our dot VIP domain. We share the China
domain industry's opinion that regulatory approval will provide for
another wave of top-level domain growth in the region. Influential
Chinese registrars will now be able to market this select group of
approved new gTLDs more actively to the important local Chinese SME
end-market for usage. We are deeply honoured to be one of only
three registries to be approved in this first round of
approvals."
Launched in May 2016, dot VIP has been the most successful new
top-level domain ever launched to date based on registrations in
its first month with Chinese domain investors being amongst the
first major purchasers of dot VIP domain names. Today's
announcement bodes well for both further domain name sales and
renewal rates of those names acquired prior to MIIT approval going
forward.
Toby Hall added:
"China is a key market for the Group, the country accounting for
42% of the 27 million new top-level domain addresses that have been
registered to date. It therefore was a priority of 2016 to
successfully access this region. Having a domain that is fully
compliant, approved and extremely well accepted by the Chinese
market, is therefore a key asset for the Group."
Dr Mao Wei, a luminary of the Chinese domain industry and Board
Chairman of ZDNS, MMX's technical partner in China, commented:
"We congratulate dot VIP on its approval and believe it has the
potential to become one of the most popular, significant top-level
domains in China."
The full announcement confirming the Ministry of Industry and
Information Technology ("MIIT") approval can be found at:
http://www.miit.gov.cn/n1146285/n1146352/n3054355/n3057709/n4704651/c5396564/content.html.
For further information:
Minds + Machines Group Limited
Toby Hall, CEO Tel: +44 (0)
7713 341072
Michael Salazar, COO/CFO Tel: +1 (424)
214 7908
finnCap Ltd Tel: 020 7220
0500
Corporate finance - Stuart Andrews/Carl
Holmes/Simon Hicks
Corporate broking - Tim Redfern/Camille
Gochez
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
About MMX
Minds + Machines Group Limited (LSE:MMX) is the owner and
operator of a world class portfolio of top-level domain assets
(gTLDs). As a sales and marketing-led registry business, we are
focused on commercializing our portfolio in partnership with our
expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains
(e.g. .london, .boston, .miami, .bayern), professional occupations
(e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion,
.wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor
activities (e.g..fishing, .garden, .horse) and generic names such
as .work and .casa. As a business, we work through our expanding
international network of registrars and distribution partners to
bring the benefits of affinity based domain addresses to B2B and
consumer audiences. For more information on MMX, please visit
www.mmx.co
This information is provided by RNS
The company news service from the London Stock Exchange
END
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