Toople PLC Contract Wins (6404T)

TIDMTOOP

RNS Number : 6404T

Toople PLC

05 July 2018

For immediate release: 07.00, 5 July 2018

Toople PLC

("Toople" or the "Company")

Further Contract Wins

Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has signed two new contracts. Both deals are expected to be material in terms of monthly revenue growth for Toople.

Energy business contract

The first contract win is with a leading energy business ("Energy Company") supplying 'dual fuel' to small businesses. 'Dual fuel' refers to the practice of being supplied by both electricity and gas from the same energy supplier. The Energy Company is now expanding its portfolio of products to offer telecoms and broadband solutions and has chosen Toople as their provider of choice.

Toople will provide its triple play services to the Energy Company's clients, which include businesses such as restaurants (take-away outlets and others), high street shops and bakers, available as a bolt-on option to their contracts with the Energy Company. New clients of the Energy Company will be offered the services as part of a combined service.

Toople's proprietary technology platform, Merlin was a key differentiating factor in the Energy Company's choice of provider. Merlin provides the perfect tool for the Energy Company to bundle seamlessly telecommunications solutions into contracts with its customers and receive all items on one bill.

Technology business contract

Additionally Toople announces that it has signed a contract with a technology services company ("Tech Services Company") with experience in server support, computer support, cloud system and disaster recovery planning.

Due to increased customer demand, the Tech Services Company has now added complete telecommunications solutions to their product offering, which will all be delivered by Toople.

The Tech Services Company was attracted to the choice of carriers available through Toople and the fact that the Company will allow for speedy provisioning to their customers. Again, the Merlin provisioning platform is currently being deployed and this was a key factor in the Tech Services Company choosing Toople.

With over 30 years of experience in server support, computer support, cloud systems and disaster recovery planning, the Tech Services Company has an established footprint providing services to SMEs in a diverse range of sectors, such as professional services firms (accounting and legal), engineering firms, financial institutions, knitwear and hosiery companies.

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

"These are great and financially meaningful wholesale contract wins for Toople. It shows that we are beginning to gain real traction among our targeted channel partners and expanding our sector verticals.

"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. This was a key deciding factor in winning both contracts."

- ends -

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 
 Adrian Andrews, Chief Financial 
  Officer 
 Cairn Financial Advisers          Tel: [phone] 
  LLP 
  David Coffman / Richard Nash 
 Novum Securities Limited          Tel: [phone] 
  Colin Rowbury 
 Turner Pope Investments Limited   Tel: [phone] 
  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.

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.

END

CNTLLFIRDIISIIT

(END) Dow Jones Newswires

July 05, 2018 02:00 ET (06:00 GMT)