Toople PLC Contract Win (3213S)

TIDMTOOP

RNS Number : 3213S

Toople PLC

25 June 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 contract with one of the UK's leading utility switching businesses. The deal is expected to result in significant additional monthly revenue for the Company.

Under the terms of the agreement, which runs for an initial three years, Toople will provide customers of the Manchester based business, which is one of the leading energy providers in the UK B2B space with a full range of products and services. These 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.

Toople will gain access to the new partner's sales team and anticipates generating a significant number of orders from this channel over the coming months. Following set up, training and implantation of Toople's Merlin provisioning platform, services are expected to be live within their own in-house sales team from the first week in August. All new customers coming through the channel will contract with Toople directly.

It is anticipated that this will be the first of several similar agreements as Toople seeks to scale its business by launching a full partnering sales and marketing channel.

Commenting on the contract win, Andy Hollingworth, CEO of Toople said:

"This is a great contract win for Toople, as we look to significantly expand our footprint among small to medium sized businesses across the UK. It gives us access to over 35,000 UK SMEs, who currently receive smarter financial choices for water, gas and electricity and are increasingly looking for connectivity services and managed telecoms solutions. This is a requirement that Toople can fulfil.

"The fact that we won this contract is a great endorsement for our business and underpins our growing reputation for delivering robust and reliable services at affordable prices with great customer service."

He added:

"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. We firmly believe that one of our key competitive strengths is our Merlin platform, which allows scalability for the business through automation and provides a strong customer relationship management interface."

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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: [phone] 
 Andy Hollingworth, 
  Chief Executive Officer 
 
 Cairn Financial Advisers   Tel: [phone] 
  LLP 
  David Coffman / Richard 
  Nash 
 Novum Securities Limited   Tel: [phone] 
  Colin Rowbury 
 Turner Pope Investments    Tel: [phone] 
  Limited 
  Andy Thacker 
 Belvedere Communications   Tel: [phone] 
  John West 
 

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.

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END

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June 25, 2018 02:00 ET (06:00 GMT)