REG - Mobile Tornado Group - Update re. Canadian customer

Mobile TornadoAnnouncement

01/12/2021 07:00

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RNS Number : 1144U  Mobile Tornado Group PLC  01 December 2021

This announcement contains Inside Information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018). Upon the publication of this
announcement this Inside Information is now considered to be within the public
domain.

 

 

1 December 2021

 

Mobile Tornado Group plc

("Mobile Tornado", the "Company" or the "Group")

 

Update re Canadian customer

 

Mobile Tornado (AIM: MBT), the leading provider of instant communication
mobile solutions to the enterprise market, announces that the Company has
received notice from its customer in Canada (the "Customer") that the Customer
will not be renewing its contract with the Company, effective from 31 December
2021. Mobile Tornado remains in discussions with the Customer about the
possibility of extending or amending the contract, however there can be no
guarantee that this will be successful.

 

As reported in the Company's half yearly report, announced on 29 September
2021, the Company has experienced some churn in the number of licenses from
this Customer. Together with those contracted professional services and
support revenues, the Customer will account for approximately £500k of Group
revenue for the financial year 2021.

 

The cancellation of this contract will not impact the Groups results for the
year ending 31 December 2021 and the Company expects to provide a year-end
trading update in January 2022.

 

Enquiries:

 

 Mobile Tornado Group plc                                   +44 (0)7734 475 888
 Jeremy Fenn, Chairman                                      www.mobiletornado.com (http://www.mobiletornado.com/)

 Allenby Capital Limited (Nominated Adviser & Broker)       +44 (0)20 3328 5656
 James Reeve/Piers Shimwell (Corporate Finance)

 David Johnson (Sales and Corporate Broking)

 Walbrook PR Ltd                                            +44 (0)20 7933 8780
 Nick Rome/Paul Vann                                        mobiletornado@walbrookpr.com

 

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