Last checked at 5 Mar 2020 07:00
Bigblu Broadand plc
("BBB" or the "Company")
Directorate Changes
Bigblu Broadband plc (AIM: BBB.L), a leading provider of alternative super-fast broadband services, announces the appointment of Phil Moses as a Non-Executive Director effective immediately following the Company's AGM in May.
Phil has a track record of creating shareholder value and has a wealth of experience in the telecoms industry, including over 20 years at BT during which time he helped to refocus the company in terms of strategy, market positioning, financial targets and transparency. Whilst at BT, Phil held a number of senior finance roles including CFO of BT Ignite, Openreach and Director of Investor Relations. In recent years, Phil has been CFO of Arqiva and also CFO of Liquid Telecom.
Phil will assist Bigblu Broadband as it develops its organic growth strategy and focuses on further expanding its services and solutions while growing its customer base with the aim of delivering significant earnings growth and further margin improvements.
Bigblu Broadband also announces that Executive Director and Chief Technology Officer Simon Clifton will become a Non-Executive Director of the Company. As a co-founder of Bigblu Broadband, Simon was instrumental in establishing its leading technology platforms and assisting its geographic growth. He will continue to support the Board as the Company further builds on the strong momentum achieved to date.
Additionally, Stephen Morana will be stepping down from his role as a Non-Executive Director. Stephen assisted the Company during its buy and build strategy and its transition to an international, technology agnostic business focused on organic growth opportunities. Thanks to Stephen's help, the Company is now well placed to generate growing levels of recurring revenues as it demonstrates the scalability of its model - with data consumption growing and government directives helping to underpin the need for alternative broadband solutions.
Both these changes will become effective immediately following the AGM.
Andrew Walwyn, CEO of BBB commented:
"We are delighted to welcome Phil to the Board. His experience will be a valuable addition as we aim to deliver strong growth and profitability.
"Having successfully completed 20 acquisitions to date and now established key hubs across Europe, the Nordics and Australia, the Company is now firmly focused on driving organic growth. We look forward to working with Phil during the next phase of our development - focused on growing recurring revenues, increasing economies of scale and benefiting from high operational gearing.
"We would also like to thank Simon and Stephen who were instrumental in assisting our development to date and remain strong supporters of the Company."
Contacts
Bigblu Broadband plc | www.bbb-plc.com |
Andrew Walwyn, Chief Executive Officer Frank Waters, Chief Financial Officer Dominic Del Mar, Corporate Development | Via Walbrook PR |
finnCap Ltd - Nomad and Broker | Tel: +44 (0)20 7220 0500 |
Marc Milmo / Simon Hicks / Charlie Beeson | |
(Corporate Finance) Tim Redfern / Richard Chambers / Manasa Patil (ECM) | |
Walbrook (Media and Investor Relations) | Tel: +44 (0)20 7933 8780 |
Nick Rome/Tom Cooper/Nicholas Johnson | or bigblubroadband@walbrookpr.com |
INFORMATION REQUIRED UNDER SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES.
Full name | Philip David Moses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Age | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current directorships: | none | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Historic directorships from previous 5 years: |
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There is no further information to be disclosed in relation to the appointments of Philip Moses pursuant to Schedule 2, paragraph (g) of the AIM Rules.
About BBB
BigBlu Broadband plc (AIM: BBB), is a leading provider of alternative broadband solutions throughout Europe and Australia. BBB delivers a portfolio of super-fast wireless broadband products for consumers and businesses unserved or underserved by fibre.
The Company has a significant target market with 27m customers in Europe with speeds of under 4 Mb, and a further 1m in Australia who have been identified as only suitable for either satellite or fixed wireless broadband.
High levels of recurring revenue, increasing economies of scale and Government stimulation of the alternative broadband market in many countries provide a solid foundation for significant organic growth as demand for alternative super-fast broadband services increases around the world.
Acquisitive and organic growth have enabled BBB to grow rapidly since inception in 2008 during which time the Company has completed 20 acquisitions across nine different countries. It is extremely well positioned to continue growing as it targets customers that are trapped in the 'digital divide' with limited fibre broadband options.
BBB's range of solutions includes satellite, next generation fixed wireless and 4G/5G delivering between 30 Mbps and 150 Mbps for consumers, and up to 1 Gbps for businesses. It provides customers ongoing services including hardware, pre and post-sale support, installation, billing and warranties whilst offering various tariffs depending on end user requirements.
Importantly, as its core technologies evolve, and cheaper capacity is made available, BBB continues to offer ever-increasing speeds and higher data throughputs to satisfy market demands for 'video-on- demand'. Its alternative broadband offerings present a customer experience that is similar to that offered by wired broadband and the connection can be shared in the normal way with PCs, tablets and smart-phones via a normal wired or wireless router.