Toople PLC Completion of Acquisition (4007D)
19 Febrero 2020 - 1:00AM
UK Regulatory
TIDMTOOP
RNS Number : 4007D
Toople PLC
19 February 2020
For immediate release: 19(th) February 2020
Toople PLC
("Toople" or the "Company")
Completion of Acquisition of DMS Holding
Toople, a provider of bespoke telecom services to UK SMEs, is
delighted to confirm that further to recent announcements the
Acquisition of DMS Holding ("DMSL") has now completed.
DMS Holding is the holding company for DMSL, a company which
provides unified communication services in the UK. DMSL commenced
trading in 2002 and has over 15 years' experience of providing
broadband connectivity, mobile and fixed voice and cloud
services.
The Board believes that the acquisition of DMSL will be
transformational for Toople for the following principal
reasons:
-- DMSL is a family owned business, which acts as a BT Premier
reseller principally in the B2B market
-- In the year to 30 April 2019, DMSL's turnover was GBP3.1
million, with a profit before taxation of GBP331,282
-- The Company is responsible for over 250,000 BT customers and
over 400,000 Revenue Generating Units
-- Headquartered in Bishop Stortford, the company also has sales
and quality operations based in the same
Durban site as Toople's sales and marketing operations
-- DMSL currently offers a portfolio of business services and
products, from a single phone line to a multi-site unified comms
VoIP platform, delivered via a network of telecoms and IT carriers
and content providers across the UK including BT Business, BT
Global Services, Gamma , EE, Vonage, Talktalk Business and 02
-- DMSL has multiple revenue streams including: upfront cash and
recurring revenue from BT activities; recurring revenues from
directly managed and contracted customers; and revenue share with
resellers
-- Once completed the combined Group will be of larger scale
opening up opportunities to benefit from operational gearing and
operating efficiencies
-- DMSL is cash generative, accelerating Toople's timeline to
achieve profitability and positive cash generation
Andy Hollingworth, CEO of Toople, commented:
"We are very pleased to have completed this transformational
acquisition and would like to thank all the shareholders, old and
new who have backed us, as well as our new debt finance partners
HomeSelect Finance. We believe that the combined business will now
accelerate to EBITDA profitability and cash self-sufficiency,
reducing the historic reliance on the market to provide funds for
working capital.
"We now look forward to integrating the businesses and
capitalising on the strong operational and market synergies. We
look forward to keeping the market updated on financial and
operational progress in both businesses and the combined Group
ahead of our interim results."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
-ends-
For further information please visit www.Toople.com or
contact:
Toople PLC Tel: 0800 0499 499
Andy Hollingworth, Chief Executive
Officer /
Kevin Lawrence, Chief Financial
Officer
Cairn Financial Advisers LLP Tel: 020 7213 0880
Sandy Jamieson/Tony Rawlinson/Ludovico
Lazzaretti
Novum Securities Limited Tel: 020 7399 9400
David Coffman
Turner Pope Investments Limited Tel: 020 3657 0050
Andy Thacker / Zoe Alexander
Belvedere Communications Tel: 020 3687 2754
John West / Llew Angus
Notes to editors:
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 small
business connectivity solutions, with robust and reliable packages
that will enhance our customer's companies. 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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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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February 19, 2020 02:00 ET (07:00 GMT)
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