Brief: LoopUp Enters Rev Sharing & Customer Transfer Agreement

Loopup

01/09/2022 07:59

Sept 1 (Reuters) - LoopUp Group PLC  LOOP.L :
    * LOOPUP GROUP PLC  - MATERIAL CONTRACT WIN; BUSINESS AND
TRADING
UPDATE
    * LOOPUP -ENTERED INTO A REVENUE SHARING, CUSTOMER TRANSFER
AGREEMENT WITH AMERICAN TELECONFERENCING SERVICES AND AUDIO
TELECOMMUNICATIONS TECHNOLOGY II LLC
    * LOOPUP GROUP PLC - UNDER AGREEMENT, LOOPUP HAS RIGHTS TO
TRANSFER MATERIALLY ALL OF PGI CONNECT'S CONFERENCING SERVICES
CUSTOMERS OVER TO LOOPUP
    * LOOPUP GROUP PLC - THERE IS NO INITIAL OR FIXED
CONSIDERATION
PAYABLE TO PGI CONNECT FOR TRANSFER OF ITS CUSTOMERS TO LOOPUP
    * LOOPUP GROUP PLC - AGREED TO PAY PGI CONNECT A SHARE OF
REVENUE
INVOICED AND RECEIVED FROM SUCCESSFULLY TRANSFERRED CUSTOMERS
FOR A PERIOD OF 3 YEARS

Source text for Eikon:  ID:nRSA9000Xa 
Further company coverage:  LOOP.L 

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