Toople PLC Two New Major Contract Wins and Market Update (1879G)
16 Marzo 2020 - 1:00AM
UK Regulatory
TIDMTOOP
RNS Number : 1879G
Toople PLC
16 March 2020
Strictly Embargoed until: 16(th) March 2020
Toople PLC
("Toople" or the "Company")
Two New Major Contract Wins and Market Update
Toople PLC (LSE: TOOP), a provider of bespoke telecom services
to UK SMEs, is pleased to announce that its recent acquisition, DMS
Holding ("DMSL"), has signed major contracts with two new large
customers. DMSL provides unified communication services in the UK
and has over 15 years' experience of providing broadband
connectivity, mobile and fixed voice and cloud services, primarily
acting as a BT Premier reseller in the B2B market. Toople acquired
DMSL last month.
The two new contract wins for DMSL are with two large blue chip
organisations:
-- A global humanitarian organisation, and
-- A worldwide underwriting business.
Both new customers have signed up for cloud telephony platforms
with DMSL. The humanitarian organisation has signed a three year
contract for 95 seats (Revenue Generating Units) and the
underwriting business has signed a three year contact for 83 seats
and a 100/1g ethernet circuit, also on a three year contract.
Customer deployment is already complete for both contract wins and
first revenues generated. As per DMSL's business model, the
contracts are already generating revenues for the Company.
The Board is acutely aware of the potential impact of the
COVID-19 virus on its business and has in place a contingency plan
to cope with any impact that restrictions on its staff and
customers may create. The Company is confident that it can maintain
business continuity given that its core offering is a cloud
telephony platform which can support all UK, Poland and Durban
staff. The platform enables every member of staff to work remotely
with full access to Toople platforms and systems on desktop, tablet
and mobile. Furthermore this solution is also available to all
Toople customers, stakeholders and to potential customers and it
can be implemented on a same day basis.
Andy Hollingworth, CEO of Toople, commented:
"The acquisition of DMSL and subsequent integration of the two
businesses is progressing very well and ahead of plan.
Operationally, both businesses will be run as one from the same
office within the next 30 days. Further synergies and cost savings
are expected when this process is completed and we will give more
details of the financial and operational progress at the time of
our AGM to be held on 31 March 2020. We are already seeing the
commercial benefits of the acquisition, with two new contract wins
already announced.
"The impact of the COVID-19 virus cannot be underestimated by
any business, but the Board is confident that our core offering of
a cloud telephony platform will ensure business continuity and can
act as a solution for other businesses who need speedy solutions to
a remote working environment.
"Furthermore in his first Budget last week, new Chancellor of
the Exchequer, Rishi Sunak, said that GBP5bn would go towards
rolling out gigabit broadband in the most difficult-to-reach 20 per
cent of the country. We welcome this move and consider it to be a
boost to Toople, and to consumers and businesses who will gain
access to higher speed and larger bandwidth connectivity over the
next five years. Toople is well placed to take advantage of these
market drivers."
-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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FURKELFFBXLBBBL
(END) Dow Jones Newswires
March 16, 2020 03:00 ET (07:00 GMT)
Toople (LSE:TOOP)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Toople (LSE:TOOP)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024