Minds + Machines Group Limited (AIM:MMX), announce that “following the recent series of private auctions, the Company will receive in aggregate $4.4 million (approximately £2.8 million) for withdrawing its applications on .latino, .school and a third domain application that at present cannot be named due to the rules governing the private auction process.

The cash to the Group is net of auction fees and includes refunds that the Company will receive from ICANN for withdrawing its applications.

Cash and cash equivalents within the Group following the latest private auctions now stand at approximately $45 million (approximately £29 million).”

However investors did not like the new sending shares of Minds + Machines down over 4% to a 52 week low of 8.375P

Minds + Machines also announced new pioneers for its already-released top-level domains including Quiksilver, the world’s largest manufacturer of surf apparel company, for .Surf; the renowned Academy of Country Music for .Country; the successful craft brewery, New Belgium Brewing, for .Beer; and Parelli Natural Horsemanship for .Horse.

The Company is also pleased to report that it will shortly be releasing two-character domain names for sale, which were previously blocked by ICANN.