Last checked at 18 Jan 2021 08:38
Toople PLC
("Toople" or the "Company" or the "Group")
Exercise of Warrants
Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, announces that pursuant to receipt of notice for the exercise of warrants, it has issued 7,500,000 new ordinary shares with a nominal value of 0.0667p each in the capital of the Company at a subscription price of 0.1p per share, raising gross proceeds of approximately £7,500 conditional upon admission to trading.
Application is being made for 7,500,000 new ordinary shares to be admitted to trading which is expected to be on or around 21 January 2021.
The new ordinary shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the new ordinary shares, the Company's issued share capital will comprise of 4,231,561,361 ordinary shares (including the 7,500,000 new ordinary shares). This figure of 4,231,561,361 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For further information:
Toople PLC Andy Hollingworth, Chief Executive Officer Paul White, Chief Financial Officer | Tel: 0800 0499 499 |
Novum Securities Limited David Coffman Colin Rowbury | Tel: 020 7399 9400 |
Belvedere Communications John West / Llew Angus
| Tel: 020 3687 2754 |
About Toople PLC
Toople PLC is incorporated in the UK and listed on the main market of the London Stock Exchange. The business currently trades under four main brands: toople.com; dmsluk.co.uk; broadbandandphones.co.uk; checkthatcompany.co.uk.
Toople.com provides bespoke telecoms services for its fast growing target market of UK SMEs with between one and 500 employees. 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 via the Group's proprietary software platform.
In February 2020, Toople completed the acquisition of DMS Holding (DMSL). DMSL commenced trading in 2002 and provides unified communication services in the UK, ranging from a single phone line to a multi-site unified comms VoIP platform, delivered via a network of telecoms and IT carriers and content providers across the UK including BT Business, BT Global Services, Gamma, EE, Vonage, TalkTalk Business and O2. DMSL acts as a BT Premier re-seller for broadband connectivity, mobile and fixed voice and cloud services and is responsible for over 250,000 BT customers and over 400,000 Revenue Generating Units.
The acquisition of DMSL was transformational for Toople, as it also expanded the Group's reach into the UK residential market, which is experiencing a period of rapid change, as operational automation further develops and more people choose to (or are forced to) work from home.
The Company also owns a telecoms price comparison website and a service offering company credit reference checking and reports. These complement the Group's IT and telecoms services.
All the Group brands seek to differentiate themselves by offering IT, telecoms and broadband solutions, with robust and reliable packages, that enhance a customers' business and are based on trust and transparency, with no hidden fees within pricing policies. This provides customers with a clear understanding of cost and fixed prices for the duration of their contracts.