Minds+Machines: .garden and .yoga secured in private auction; .deals and .property lost

The Directors of Minds + Machines Group Limited (AIM:MMX) are delighted to announce that following the private auctions held last week for .deals, .garden, .property and .yoga, the Company has secured the uncontested application rights for .garden and .yoga. The net cost to the Company for securing the sole application status for .garden and .yoga was approximately $5.97 million (circa £3.6 million), once the proceeds of the .deals and .property private auctions are taken into account. The above figure includes the rebates that the Company will receive from ICANN for withdrawing its applications for .deals and .property and commissions payable to the auctioneer.

The Directors believe that Minds + Machines’ current portfolio of 28 uncontested applications in which it now has a commercial interest is one of the leading portfolios to have been developed through the new gTLD programme.

Fred Krueger, Chairman of Minds + Machines, commented:

.garden and .yoga are major asset wins for the Group as both represent activities that people are passionate about – we believe this will become an important factor in the adoption of new domains. We look forward to continuing to expand our portfolio through the private auction process while at the same time maintaining our cash reserves.