Completion of Placing

RNS Number : 8359B

Toople PLC

25 September 2018

 

Toople PLC

("Toople" or the "Company")

Completion of Placing

Further to the announcement on 11 September 2018 of the proposed placing of 733,333,333 new shares ("Placing Shares") in the Company with institutional and other investors at 0.3p per share ("the Placing Price") to raise £2.2 million (before expenses) ("the Placing"), Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that the Placing was completed on admission of all the Placing Shares to listing on the UK Listing Authority's Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities  which became effective at 8.00 am today.

In addition to the Placing, certain Directors agreed for a portion of the fees and remuneration owed to them of approximately £51,400 to be settled through the issue of 17,133,332 Fee Shares at the Placing Price. The Fee Shares were also admitted to listing on the UK Listing Authority's Official List (standard listing segment) and to trading on the London Stock Exchange's main market for listed securities at 8.00 am today.

Following admission of the Placing Shares and the Fee Shares the Company has 954,380,559 ordinary shares of 0.0667 pence each in issue, each with one vote per share (and none of which are held in treasury).  This figure of 954,380,559 may be used by shareholders in the Company as the denominator for calculations to determine if they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.

This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse 

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For further information please visit www.toople.com or contact:

Toople PLC	Tel: [phone]
Andy Hollingworth, Chief Executive Officer
Cairn Financial Advisers LLP David Coffman / Richard Nash	Tel: [phone]
Novum Securities Limited Colin Rowbury	Tel: [phone]
Turner Pope Investments Limited Andy Thacker	Tel: [phone]
Belvedere Communications John West	Tel: [phone]

About Toople PLC

Toople Plc, a company incorporated in the UK provides a range of telecoms services primarily targeted at the UK SME market. Services offered by the Group include business broadband, fibre, EFM and Ethernet data services, business mobile phones, cloud PBX and SIP Trunking and Traditional Services (calls and lines) all of which are delivered and managed through Merlin, the Group's proprietary software platform.

The Group is differentiated by its focus on creating business broadband solutions, with robust and reliable packages that will enhance our customers company's. In addition, our vision is based on trust and transparency, with no hidden fees within our pricing policy providing customers with a clear understanding of cost.

Toople Plc has a strong and highly experienced Board and management team who are focused on growing the business both organically and by identifying earnings enhancing strategic acquisition opportunities.

 

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