AGM & Trading Update

RNS Number : 7432D

Pinnacle Telecom Group PLC

28 March 2011

 



28 March 2011  

Pinnacle Telecom Group plc ("Pinnacle or the Company")

Result of Annual General Meeting & Trading Update  

At the General Meeting of the Company held today, all resolutions were duly passed.

Following completion of the AGM, the CEO, Alan J Bonner, issued a trading update as follows:

"Building on the acquisition and integration activity of the last year, and to strengthen our capability in the provision of IP and cloud-based solutions, we have entered into a supply agreement with TalkTalk Business for an interconnect into TalkTalk's Next Generation Ethernet Network. By combinng this with Pinnacle's network, we are now able to offer Ethernet services from over 2000 exchanges across the UK. As businesses start migrating to virtualisation of their servers, the cloud for their business software applications and a reliance of online data storage, the demand for high quality Ethernet connectivity will increase dramatically. Pinnacle will be one of the first Service Providers to offer 20Mb Ethernet First Mile products when they are launched later this year.

We are now very active in looking at the potential acquisition of a number of companies. As already outlined to shareholders, our continuing strategy is to seek out well-priced and timely acquisitions. We are currently seeking businesses that are capable of migrating their customer bases from traditional technologies, onto next generation Internet Protocol (IP) and cloud-based technologies.

We are very pleased to report that whilst remaining free of bank debt, we continue to deliver positive EBITDA, which is a key performance indicator that is reported to the Board on a monthly basis.

Given our sucess with the BBC relating to short-term connectivity for various high profile events, we expect to win additional contracts of this nature from other broadcasters through 2011."

All Company announcements & news can be found on http://www.pinnacletelecomgroup.co.uk

For further information please contact:
Pinnacle Telecom Group plc
Alan J Bonner, Chief Executive	0845 180 7474
Zeus Capital Limited
Ross Andrews	0161 831 1512
Rivington Street Corporate Finance Limited
Jon Levinson & Peter Greensmith	0207 562 3389

About Pinnacle

 Pinnacle Telecom Group plc (AIM: PINN) is a value added, solutions based provider of integrated telecommunications services including IP and cloud solutions. It focuses on the SME market across the UK, where it provides a wide range of communications solutions including telecommunications calls, access and consultancy, IT support, mobile solutions both voice and data and hosted broadband voice services.

Pinnacle's strategy is to be a SME focused, value added, solutions based provider of converged communications services, driven by leveraging organic opportunities as well as through targeted acquisitions. 

 

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