Toople Plc Regulatory News (TOOP)

Strictly embargoed for 07.00: 22 October 2020

Toople PLC

("Toople" or the "Company" or the "Group")

New Contract Win

Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is pleased to announce that it has sold a range of new IP cloud based services to an existing client in a 36 month extension to the existing agreement, significantly increasing the value of the contract.

In March 2018 Toople announced that it had signed a new contract with a London based bakery, to provide full telecom services to their 52 retail sites and their company headquarters. The bakery has since expanded its footprint to over 70 retail sites and continues to grow its estate.

Toople is now contracted to provide telecom services to all these locations, including broadband, telephony and mobile Wi-Fi, plus high speed broadband and Wi-Fi services to the bakery's headquarters and distribution offices. Toople will replace standard broadband with superfast fibre-optic broadband in each location, where available.

Additionally, Toople will now be responsible for rolling out cloud telephony, as well disaster 4G backup recovery systems, in each location. This will ensure that the business has seamless connectivity in the event of outage and can continue to function with online delivery platforms.

Andy Hollingworth, CEO of Toople, commented:

"We are extremely pleased that an important existing customer is satisfied with the services we have provided. This satisfaction underpins their wish to increase the scope and length of their existing contract with Toople. It is further evidence that small and medium sized businesses are increasingly looking at their existing broadband and telephony infrastructure to take advantage of the availability of next generation fibre and improved telecom network services. This was a contract that we originally won from the largest provider in the UK, so to retain it for another three years with an expansion of the scope of services to be provided is a real affirmation of our offering.

"We congratulate our customer on their success and expansion over the last two and a half years and we look forward to assisting them with the new services they have contracted. I am pleased that our reputation for providing great service and seamless connectivity at fixed transparent prices is growing in the UK market."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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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: www.toople.com; www.dmsluk.co.uk; broadbandandphones.co.uk; www.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.