Major Contract Win

RNS Number : 0562Z

Toople PLC

29 August 2018

 

For release: 07.00, 29 August 2018

Toople PLC

("Toople" or the "Company")

Major Contract Win

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has signed a major new wholesale contract with a well-known reseller based in the South of England ("wholesale partner").

The contract duration is for an initial three years and is expected to deliver at least £3.5 million in additional revenue to the Company spread over that period.  It is expected to be accretive to monthly revenues after an initial six month period.

During the initial months of the contract, the wholesale partner will migrate its current hosted telephony estate over to Toople's proprietary platform, as well as white labelling Toople's broadband propositions and marketing them to existing and new customers.

Commenting on the contract win, Andy Hollingworth, CEO of Toople said:

"This is a great win for Toople as all the revenues relate to our next generation of telephony and superfast broadband services.  As this and our other recent contract wins demonstrate, we are seeing increased interest from reseller partners and those active in the wholesale market.  This is because we have a number of competitive advantages in terms of our platform, price and next generation service offerings."

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

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

Toople PLC	Tel: [phone]
Andy Hollingworth, Chief Executive Officer
Adrian Andrews, Chief Financial 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 / Llew Angus	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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