Manx Telecom PLC Amendment: Isle of Man launch of MT clearSound

TIDMMANX

Manx Telecom PLC

20 September 2018

The following amendment has been made to the 'Isle of Man launch of Goshawk's MT clearSound' announcement released on 20/09/2018 at 08:00 under RNS No 3129B.

Changes have been made to correct the reference to Dr Michael Stone.

All other details remain unchanged.

The full amended text is shown below.

Manx Telecom Plc

Isle of Man launch of Goshawk's MT clearSound

Manx Telecom Plc (AIM: MANX; the "Company"), the leading communication solutions provider on the Isle of Man, is delighted to announce the launch of MT clearSound, a hearing loss product developed by Goshawk Communications.

The product was unveiled yesterday on the Isle of Man and the following press release was published.

Manx Telecom launches world first mobile call quality product MT clearSound

-- Mobile telecoms product and registered medical device offering dramatic improvement in call clarity and quality

   --     90% of trialists agreed that speech was clearer and easier to hear when using the service 

-- A global first; researched, trialled and developed on the Isle of Man; coming to the UK in 2019

Manx Telecom is delighted to announce the launch today on the Isle of Man of MT clearSound, a new, personal mobile phone product which dramatically improves the clarity of mobile phone calls. The product is available at no additional cost to PayMonthly customers on the Manx Telecom network.

The technology behind the MT clearSound registered medical device is located within the network and requires no purchase or installation of specialist equipment by the user. A user completes a short online registration and a hearing assessment using any mobile phone on the Manx network, enabling MT clearSound to create a tailored individual hearing profile. This fine tunes all incoming and outgoing telephone calls to meet the user's personal hearing needs. The profile can be changed at any time by the user if their requirements change, for example with the adoption of a new hearing aid or purchase of a new mobile phone.

MT clearSound will help people suffering from moderate to severe hearing loss to communicate and to maintain the art of conversation, enabling and empowering them to use their mobile phone with more confidence. During the clinical trial, 80% of respondents said they felt stress-free while using the service. According to 89% of the trialists, the product should be available to everyone who has a hearing need.

MT clearSound is the first such product worldwide and has a huge potential addressable market, being suitable for both people with varying levels of hearing loss and those wanting to enhance the quality of their mobile phone conversations in general. The introduction of the product on the Isle of Man, where it was researched, trialled and developed by Vannin Ventures, Manx Telecom's business incubator, with Goshawk Communications, the lead investment in its portfolio, is just the latest example of the island serving as a test-bed for innovation; but the technology will also be made available off island as soon as 2019, when BT will leverage its EE mobile network to launch the technology, targeting the eleven million UK consumers who experience hearing loss.

MT clearSound was inspired by Goshawk founder Matthew Turner's own experiences with hearing loss. Deaf since the age of four, his determination to create a solution lead to the creation of MT clearSound, which is based on the algorithms of Professor Brian Moore of the University of Cambridge, one of the world's leading authorities on auditory perception. The product is backed by further medical and audiology professionals in the UK and on the Isle of Man, including Dr Michael Stone, Senior Research Fellow in Audiology / Hearing Sciences at University of Manchester, who have worked closely with Goshawk and Manx Telecom on the ground-breaking mobile phone technology.

Gary Lamb, CEO of Manx Telecom, said: "MT clearSound will empower people suffering from a moderate to severe hearing loss, and every mobile user seeking greater call clarity, to use their mobile phones with greater confidence. The launch of MT clearSound in the UK next year in partnership with BT has the potential to change the lives of millions of people and is further evidence of Manx Telecom's investment in innovation and technology."

Matthew Turner, CEO and Founder of Goshawk Communications, said: "I created a 'hearing aid in the sky' because of my frustration with telecoms companies who did not understand people with hearing loss. Engaging with Manx Telecom was very different - it was easy to reach the decision-makers and the work environment was very open. We know MT clearSound can make a huge difference to people's lives. Ideally this should set the Global Standard - that for me would be a wonderful achievement."

For further enquiries, please contact:

 
Manx Telecom plc                                   [phone] 
Gary Lamb, CEO 
 Paul Tierney, CFO 
Liberum (Nominated Advisor and Corporate Broker)   [phone] 
Steve Pearce 
 Josh Hughes 
Oakley Advisory (Financial Advisor)                [phone] 
Christian Maher 
 Victoria Boxall 
Powerscourt Group (Public Relations)               [phone] 
Elly Williamson 
 Celine MacDougall 
 

About Manx Telecom

Manx Telecom is the leading communication solutions provider on the Isle of Man, providing a wide range of Fixed Line, Broadband, Mobile and Data Centre services to retail, business and public sector customers on the Island, as well as a growing portfolio of innovative hosting and "Smart SIM" solutions to global customers.

The Company focuses on providing outstanding customer experience, high-quality and high-availability networks achieving 99% 4G and 93% superfast fibre broadband population coverage, and consistent first-to-local-market roll-out of new products for homes and businesses.

Manx Telecom is the only operator of a Fixed Line network and is currently investing in state of the art 1 Gbps Fibre-to-the-Premise (FTTP) broadband for both its consumer and business customer base. The Company has three data centres, two of which are Tier 3 designed, plus international connectivity, and its operations are business-critical to the economic strategy of the Isle of Man.

One of the Isle of Man's largest employers with around 300 staff, Manx Telecom plays a major role in the wider community through a range of activities including: charitable donations, sponsorships and corporate social responsibility initiatives.

Manx Telecom is strengthening its core market position whilst exploring new market opportunities on and off-island, leveraging its telecommunications expertise and mobile technology platform.

Manx Telecom is listed on the Alternative Investment Market of the London Stock Exchange (AIM: MANX). www.manxtelecom.com

About Vannin Ventures

Vannin Ventures is a wholly owned subsidiary of Manx Telecom. It was formed as a stand-alone business incubator, to support the development and commercialisation of innovations in IoT and the wider telecommunications ecosystem.

Vannin Ventures forms effective relationships with entrepreneurs and growth businesses. As a flexible development partner and operational investor, Vannin Ventures supports early-stage innovation concepts through their initial development, to pilot launch (with the Isle of Man as an excellent test bed) and full launch, in the UK and international markets. For more information, see www.vanninventures.com

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 [e-mail] or visit www.rns.com.

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September 20, 2018 13:00 ET (17:00 GMT)