Toople PLC Trading update and PDMR Share Dealing (4864S)
17 Marzo 2021 - 1:00AM
UK Regulatory
TIDMTOOP
RNS Number : 4864S
Toople PLC
17 March 2021
For release: 07.00, 17 March 2021
Toople PLC
("Toople" or the "Company")
Trading update and PDMR Share Dealing
Toople PLC (LSE: TOOP), a provider of bespoke telecom services
to UK SMEs, is pleased to provide the following trading update.
Further to recently announced significant contract wins, monthly
orders are continuing to grow and gross margins are materially
higher than the pre-pandemic period. This has enabled monthly cash
burn to be reduced by 60% compared with 2020 and this trend is
expected to be sustained, moving the Company towards positive cash
flow. The Directors believe that trading will continue to
demonstrate significant progress as the current UK lockdown begins
to ease and the economy moves towards the post-pandemic period.
The Company also announces that Juli Carter, wife of John Carter
who is Managing Director of Toople's trading subsidiary Direct
Market Services Limited ("DMSL"), has sold 1,050,000,000 ordinary
shares at a price of 0.6 pence per share. These shares were placed
with existing and new shareholders by Novum Securities Limited.
The majority of the net proceeds from the disposal will be used
to repay GBP462,000 owed to DMSL at the time that DMSL was acquired
by Toople in February 2020. Consequently, the Company's balance
sheet has been materially further enhanced, which together with the
lower cash burn provides a working capital platform to enable the
Company to progress towards profitability.
The balance of the proceeds are intended to be used by John
Carter to fund a High Court action against a third party. This
dispute does not involve Toople and there is no potential liability
to the Company. Novum Securities Limited agreed to waive the terms
of the lock-in agreement dated 30 January 2020 only in respect of
the shares disposed, in order to ensure that Toople receive the
funds due to them.
This announcement contains information which, prior to its
disclosure, was inside information as stipulated under Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310
(as amended).
-Ends-
For further information :
Toople PLC Tel: 0800 0499 499
Andy Hollingworth, Chief Executive
Officer
Paul White, Chief Financial
Officer
Novum Securities Limited Tel: 020 7399 9400
David Coffman
Colin Rowbury
Belvedere Communications Tel: 020 3687 2754
John West / Llew Angus
About Toople PLC
Toople PLC is incorporated in the UK and listed on the main
market of the London Stock Exchange. The business currently trades
under four main brands: toople.com ; dmsluk.co.uk ;
broadbandandphones.co.uk ; checkthatcompany.co.uk .
Toople.com provides bespoke telecoms services for its fast
growing target market of UK SMEs with between one and 500
employees. 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 via the Group's
proprietary software platform.
In February 2020, Toople completed the acquisition of DMS
Holding (DMSL) . DMSL commenced trading in 2002 and provides
unified communication services in the UK, ranging 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 O2. DMSL acts as a BT Premier
re-seller for broadband connectivity, mobile and fixed voice and
cloud services and is responsible for over 250,000 BT customers and
over 400,000 Revenue Generating Units.
The acquisition of DMSL was transformational for Toople, as it
also expanded the Group's reach into the UK residential market,
which is experiencing a period of rapid change, as operational
automation further develops and more people choose to (or are
forced to) work from home.
The Company also owns a telecoms price comparison website and a
service offering company credit reference checking and reports.
These complement the Group's IT and telecoms services.
All the Group brands seek to differentiate themselves by
offering IT, telecoms and broadband solutions, with robust and
reliable packages, that enhance a customers' business and are based
on trust and transparency, with no hidden fees within pricing
policies. This provides customers with a clear understanding of
cost and fixed prices for the duration of their contracts.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTGPUQAWUPGPGQ
(END) Dow Jones Newswires
March 17, 2021 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