Global Connectivity - Statement re SWS Broadband Appointment

Global Connectivity

05/04/2023 07:00

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RNS Number : 3942V  Global Connectivity PLC  05 April 2023

5 April 2023

 

Global Connectivity Plc

(the "Company")

 

SWS BROADBAND APPOINTS 16 NEW PEOPLE TO ITS TEAM

 

Global Connectivity Plc (AQSE: GCON), formerly known as Rural Broadband
Solutions Plc, a company focused on communication services and technologies
that enhance connectivity, announces an update from the company in which it
holds a 15% stake, Rural Broadband Solutions Holdings Limited ("RBSHL"). RBSHL
holds 100% of Shropshire based SWS Broadband which has taken on 16 members of
staff and moved to a new office location in Shrewsbury.

 

In October 2022, GCON announced an investment from Tiger Infrastructure
Partners Fund III LP ("Tiger") into its two operating subsidiaries and a
change of name to Global Connectivity Plc. Tiger is investing up to £75
million into RBSHL, a newly formed company, and owns 85% of the common equity
of RBSHL.

 

SWS Broadband specialises in providing high-speed full-fibre broadband
services to rural communities. The changes are the beginning of a planned
period of sustained activity according to SWS sales director, Rachel Corner.

 

Rachel Corner said: "While we are eager to advance new projects, adopting a
measured approach to delivering our strategic goals is key to sustained
business growth. In addition, we don't want to lose sight of SWS's emphasis on
a happy, dedicated workforce and the provision of excellent customer service
the latter of which, for example, is reflected in our 100 percent 5/5 Trust
Pilot review status. We will support them with tailored on-the-job training
and look forward to their contributions at what is an exciting and important
stage in SWS Broadband's development."

 

SWS's fibre build is currently ongoing in a number of areas in Shropshire,
including Stiperstones, Woolston, Habberley, Cardington, Longville, Bagley,
Rushbury, Wall Under Heywood, Ditton Priors, Aston Munslow, Bitterley,
Brockton, Bushmoor, Lydbury, Lydham, Clun, Norbury, Wistanstow, Bucknell,
Newcastle On Clun, Clee Hill, Bedlam, Bishops Castle, Church Stretton and
Craven Arms.

 

Keith Harris, Executive Chairman of Global Connectivity Plc, commented:

 

"Tiger shares our vision that we have long held for the business and they add
the financial strength to allow us to fulfil that vision, and these new hires
are an example of that investment being made."

 

"We are now looking for opportunities in technically based businesses (albeit
ones that do not compete with our existing broadband activities at SWS), that
enhance connectivity either between consumers or businesses that provide
services to consumers where enhanced connectivity is essential."

 

 

The Directors of Global Connectivity Plc accept responsibility for the
contents of this announcement.

 

ENDS

 

For further information please contact:

 

Keith Harris

Executive Chairman

Global Connectivity Plc

www.globalconnectivityplc.com (http://www.globalconnectivityplc.com)

 

Nick Michaels

AQSE Stock Exchange Corporate Adviser

Alfred Henry Corporate Finance Limited

www.alfredhenry.com (http://www.alfredhenry.com)

Tel: +44 (0) 203 772 0021

 

Claire Louise Noyce

AQSE Stock Exchange Corporate Broker

Hybridan LLP

claire.noyce@hybridan.com (mailto:claire.noyce@hybridan.com)

www.hybridan.com (http://www.hybridan.com)

Tel: +44 20 3764 2341

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