RE: For the Record8 Jan 2019 16:17
Below is the RNS from August 2018, so leaving just another month as we start receiving income from this £3.5M contract. The 6 month period is about to expire. If you divide £3.5M into 3 years = £1.16M PA on top of the current M/C so adjustment here on the current SP is imminent
29/08/2018 7:00am
UK Regulatory (RNS & others)
Toople (LSE:TOOP)
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RNS Number : 0562Z
Toople PLC
29 August 2018
For release: 07.00, 29 August 2018
Toople PLC
("Toople" or the "Company")
Major Contract Win
Toople Plc (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has signed a major new wholesale contract with a well-known reseller based in the South of England ("wholesale partner").
The contract duration is for an initial three years and is expected to deliver at least GBP3.5 million in additional revenue to the Company spread over that period. It is expected to be accretive to monthly revenues after an initial six month period.
During the initial months of the contract, the wholesale partner will migrate its current hosted telephony estate over to Toople's proprietary platform, as well as white labelling Toople's broadband propositions and marketing them to existing and new customers.
Commenting on the contract win, Andy Hollingworth, CEO of Toople said:
"This is a great win for Toople as all the revenues relate to our next generation of telephony and superfast broadband services. As this and our other recent contract wins demonstrate, we are seeing increased interest from reseller partners and those active in the wholesale market. This is because we have a number of competitive advantages in terms of our platform, price and next generation service offerings."
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