REG - Toople PLC - Result of GM and Conditional Placing

ToopleAnnouncement

20/12/2021 11:45

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RNS Number : 2148W  Toople PLC  20 December 2021

For immediate release: 20 December 2021

 

Toople PLC

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

 

Result of General Meeting and Conditional Placing of New Ordinary Shares

 

Toople PLC (LSE: TOOP), a provider of bespoke telecom services to UK SMEs, is
pleased to announce that all of the resolutions set out in the Notice of
Meeting circulated to shareholders were approved at the General Meeting of the
Company held earlier today.

 

Accordingly, the proposed capital reorganisation, where each existing ordinary
share of 0.0667 pence will be subdivided into one new ordinary share of 0.01
pence ("New Ordinary Share") and one deferred share of 0.0567 pence per share
has now been approved.  In addition, the conditions for the placing of
838,812,272 new ordinary shares in the Company (the "Placing Shares") with
institutional and other investors at 0.045p per share (the "Placing Price") to
raise £0.38m have now been met save for admission to trading which is now
expected to take place on 22 December 2021.

 

The Placing has been supported by many of the Company's existing shareholders
including its two largest shareholders as well as key members of the Board.
The Placing was oversubscribed and utilised all of the existing share issue
capability of the Company.  The net proceeds of the Placing will be used to
provide further working capital to support the Company's growth and enhance
the Company's service offerings.

 

The Placing Shares will rank pari passu with the New Ordinary Shares of the
Company. Following Placing and Reorganisation, the Company's issued share
capital will comprise of 5,070,373,633 New Ordinary Shares. This figure of
5,070,373,633 New 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 information which, prior to its disclosure, was
inside information as stipulated under Regulation 11 of the Market Abuse
(Amendment) (EU Exit) Regulations 2019/310 (as amended).

-Ends-

For further information:

 

 Toople PLC                                   Tel: 0800 0499 499

 Andy Hollingworth, Chief Executive Officer

 Paul White, Chief Financial Officer
 Novum Securities Limited                     Tel: 020 7399 9400

 David Coffman

 Colin Rowbury
 Belvedere Communications                     Tel: 020 3687 2754

 John West / Llew Angus

About Toople PLC (http://www.toople.com)

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 (http://toople.com) ; dmsluk.co.uk (http://dmsluk.co.uk) ;
broadbandandphones.co.uk (https://broadbandandphones.co.uk/) ;
checkthatcompany.co.uk (http://www.checkthatcompany.co.uk/) .

Toople.com (http://www.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.  The Group's
wholly owned subsidiary  DMS Holding (DMSL) (http://www.dmsluk.co.uk/)
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 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.

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