CityFibre Infrastructure Hldgs PLC CityFibre wins first contract award under LFFN (7545P)

TIDMCITY

RNS Number : 7545P

CityFibre Infrastructure Hldgs PLC

31 May 2018

 
  For immediate release    31 May 2018 
 

CITYFIBRE INFRASTRUCTURE HOLDINGS PLC

('CityFibre' or the 'Group' or the 'Company')

CityFibre wins first contract award under LFFN

CityFibre chosen to provide gigabit connectivity to nine urban communities in West Sussex - first project funded under UK Government's LFFN stimulus programme

CityFibre (AIM: CITY), a leading designer, builder, owner and operator of fibre optic infrastructure in UK towns and cities, is pleased to announce that is has been selected by West Sussex County Council to provide gigabit connectivity to nine urban areas within the council's jurisdiction and funded under UK Government's Local Full Fibre Networks initiative ('LFFN') stimulus programme.

Under the 30-year framework agreement, with a lifetime value of up to GBP52.0m, CityFibre will construct new future-proof full-fibre networks to 152 council sites in Bognor Regis, Burgess Hill, Chichester, Crawley, Haywards Heath, Horsham, Littlehampton, Shoreham and Worthing. The initial contract value of this first phase call-off under the framework is GBP5.7m.

This contract marks the first project funded under the Department of Culture, Media and Sport's Local LFFN, previously announced in 2016.

Construction on the project is anticipated to begin in August 2018, with the first connections expected to be activated early in 2019.

Upon completion this will extend CityFibre's full fibre network coverage to 51 towns and cities across the UK. The Group estimates that the expanded footprint will address 4.5m homes, 300,000 businesses, 29,000 public sector sites and 8,100 mobile macro sites.

Greg Mesch, Chief Executive of CityFibre, commented:

"We're delighted to have been chosen to deliver the Government's first 'Local Full Fibre Networks Programme' project. The LFFN provides a powerful mechanism for local authorities to attract full fibre infrastructure investment. We look forward to using this project with West Sussex as a model for roll-outs in towns and cities across the country."

For further information, please contact:

 
  CityFibre Infrastructure Holdings       www.cityfibre.com 
   plc 
  Greg Mesch, Chief Executive Officer     Tel: [phone] 
                                           0602 
  Terry Hart, Chief Financial Officer 
  James Enck, Investor Relations          Tel: [phone] 
                                           6283 
 
  finnCap (Nomad and Joint Broker)        www.finncap.com 
  Stuart Andrews / Christopher Raggett    Tel: [phone] 
   (Corporate Finance)                     0500 
  Simon Johnson (Corporate Broking) 
 
  Liberum (Joint Broker)                  www.liberum.com 
  Steve Pearce / Richard Bootle           Tel: [phone] 
                                           2000 
 
  Vigo Communications                     www.vigocomms.com 
  Jeremy Garcia / Fiona Henson            Tel: [phone] 
                                           9700 
 

About CityFibre:

CityFibre is the UK's leading alternative provider of wholesale full-fibre network infrastructure. With duct and fibre footprints in over 40 cities throughout the UK, it provides a portfolio of active and dark fibre services to its customers which include service integrators, enterprise and consumer service providers, local authorities and mobile operators. CityFibre has begun a roll-out of Fibre-to-the-Premises in a strategic partnership with Vodafone, targeting 5 million homes and businesses by 2025. CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CITY). www.cityfibre.com

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May 31, 2018 02:00 ET (06:00 GMT)