Update re. Canadian customer

RNS Number : 1144U

Mobile Tornado Group PLC

01 December 2021

 

This announcement contains Inside Information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018). Upon the publication of this announcement this Inside Information is now considered to be within the public domain.

1 December 2021

Mobile Tornado Group plc

(" Mobile Tornado ", the " Company " or the " Group ")

Update re Canadian customer

Mobile Tornado (AIM: MBT), the leading provider of instant communication mobile solutions to the enterprise market, announces that the Company has received notice from its customer in Canada (the "Customer") that the Customer will not be renewing its contract with the Company, effective from 31 December 2021. Mobile Tornado remains in discussions with the Customer about the possibility of extending or amending the contract, however there can be no guarantee that this will be successful.

As reported in the Company's half yearly report, announced on 29 September 2021, the Company has experienced some churn in the number of licenses from this Customer. Together with those contracted professional services and support revenues, the Customer will account for approximately £500k of Group revenue for the financial year 2021.

The cancellation of this contract will not impact the Groups results for the year ending 31 December 2021 and the Company expects to provide a year-end trading update in January 2022.

Enquiries:

Mobile Tornado Group plc	[phone]
Jeremy Fenn, Chairman	www.mobiletornado.com
Allenby Capital Limited (Nominated Adviser & Broker)	[phone]
James Reeve/Piers Shimwell (Corporate Finance) David Johnson (Sales and Corporate Broking)
Walbrook PR Ltd	[phone]
Nick Rome/Paul Vann	[e-mail]

 

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