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Toople PLC (TOOP)

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Thursday 23 August, 2018

Toople PLC

Contract Win

RNS Number : 6112Y
Toople PLC
23 August 2018
 

For release: 07.00, 23 August 2018

Toople PLC

("Toople" or the "Company")

Contract Win

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has signed a new contract with a South East based reseller to provide next generation broadband and cloud based telephony services specifically for two of the reseller's national high street retail customers, each with multiple sites across the UK.

Significantly, these retail estates are migrating from traditional services to fibre broadband and Voice over Internet Protocol ("VoIP") telephony.  This is due to notice from BT that its legacy copper products such as standard PSTN lines and ISDN circuits, which are currently being used by the retail estates, are due to close down in service by 2025. To adapt to this inevitable technological development, Toople has been selected by the reseller for its leading fibre broadband products and cloud telephony platform and the contract is expected to provide significant revenue opportunities.

Commenting on the deal, Andy Hollingworth, CEO of Toople said:

"This contract win demonstrates that Toople is excellently placed to take advantage of the opportunities created by BT's migration from legacy products to new technologies.  From the launch of Toople, all the Company's propositions have been built on next generation technology and have been future proofed to take advantage of the BT migration and to ensure that Toople is well placed. It shows that we are a modern telecommunications partner of choice as copper technologies are phased out and that we are well positioned for the future.  Accelerating growth of hosted telephony services is a key focus of the Company due to its attractive margins and the increasingly competitive nature of the SME broadband market."

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Certain statements in this announcement contain inside information for the purpose of Article 7 of EU Regulation 596/2014.

 

For further information please visit www.toople.com or contact:

 

Toople PLC

Tel: 0800 0499 499

Andy Hollingworth, Chief Executive Officer


Adrian Andrews, Chief Financial Officer

 


Cairn Financial Advisers LLP

David Coffman / Richard Nash

 

Tel: 020 7213 0880

Novum Securities Limited

Colin Rowbury

 

Tel: 020 7399 9400

Turner Pope Investments Limited

Andy Thacker      

 

Tel: 020 3621 4120

Belvedere Communications

John West

 

Tel: 020 3735 8896

 

About Toople PLC

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 business broadband solutions, with robust and reliable packages that will enhance our customers company's. 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 [email protected] or visit www.rns.com.
 
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