CityFibre Infrastructure Hldgs PLC Sheffield launch partner signing (0578G)

TIDMCITY

RNS Number : 0578G

CityFibre Infrastructure Hldgs PLC

03 August 2016

 
  For immediate release    3 August 2016 
 

CITYFIBRE INFRASTRUCTURE HOLDINGS PLC

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

Sheffield launch partner signing

CityFibre (AIM: CITY), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, is pleased to announce the signing of a launch partner agreement for its acquired networks in the Sheffield metro area.

The six-year, GBP3.3m deal commits CityFibre partner Exa Networks to delivering 250 school and business connections under an existing national framework agreement, focused on the Company's network in Sheffield, and also brings the benefits of gigabit connectivity to schools and businesses in Doncaster and Rotherham.

Today's agreement takes the number of connections sold by CityFibre on the networks acquired from KCOM in January to 1,450, and the value of contracts sold on the assets to GBP22.1m.

Capex coverage on the contract is in line with the Company's stated guidance.

Greg Mesch, Chief Executive of CityFibre, commented:

"We're delighted to extend our framework agreement with Exa into Sheffield, Doncaster and Rotherham. With this latest call-off, we demonstrate our ability to leverage our expanded footprint and drive commercialisation of the acquired assets at pace, bringing 10 cities into commercial production within seven months of acquisition close. It also brings us within striking distance of 4,000 connections sold year to date."

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

For further information, please contact:

 
  CityFibre Infrastructure Holdings         www.cityfibre.com 
   plc 
  Greg Mesch, Chief Executive Officer       Tel: [phone] 
                                             0774 
  Terry Hart, Chief Financial Officer 
  James Enck, Head of 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 / Steven Tredget /           Tel: [phone] 
   Richard Bootle                            2000 
 
  Vigo Communications                       www.vigocomms.com 
  Jeremy Garcia / Fiona Henson              Tel: [phone] 
                                             9700 
 

About CityFibre:

CityFibre is the national builder of Gigabit Cities, as the UK's largest alternative provider of wholesale fibre network infrastructure. It has major metro duct and fibre footprints in 37 cities across the UK and a national long distance network that connects these cities to major data-centres across the UK and to key peering points in London.

The company has an extensive customer base spanning service integrators, enterprise and consumer service providers and mobile operators. Providing a portfolio of active and dark fibre services, CityFibre's networks address 26,000 public sites, 7,400 mobile masts, 260,000 businesses and 3.7 million homes.

CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CITY). Further information on the company can be found at www.cityfibre.com

This information is provided by RNS

The company news service from the London Stock Exchange

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August 03, 2016 02:00 ET (06:00 GMT)