Issue of Equity

RNS Number : 0486H

Toople PLC

08 March 2018

 

Toople Plc

("Toople" or the "Company" or the "Group")

Issue of Equity

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has raised gross proceeds of £250,000 from the placing of 24,462,268 new ordinary shares of 0.0667 pence each in the Company at a price of 1.022 pence per share (the "Placing"). Application is being made for the new shares to be admitted to trading, which is expected to be on or around 13 March 2018.

The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following completion of the Placing, the Company's issued share capital will comprise of 200,000,000 Ordinary Shares (including the 24,462,268 new Ordinary Shares). This figure of 200,000,000 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Company proposes to use the funds to continue to grow its business through further targeted marketing of its product offerings and enhance its levels of support in line with increasing customer numbers and contracts.

Andy Hollingworth, CEO, Toople Plc, commented: January and February 2018 direct small business orders have shown a 160% increase as a direct comparison for the same period in 2017, demonstrating that the strategic decision the business took at the end of 2017 in bringing its sales team in-house, has resulted in both higher customer orders and customers taking more services per contract. The proactive interest in our headroom for shares gives the business confidence, and I would like to thank both Turner Pope Investments and Novum Securities for their continued support of the business, as both have been cornerstone investment partners since market entry."  

Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

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For further information:

Toople Plc	0800 0499 499
Andy Hollingworth, Chief Executive Officer   Cairn Financial Advisers	0207 213 0880

 

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