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LoopUp Group PLC - Contract Wins, Business Update & Notice of Results

RNS Number : 5430Y
LoopUp Group PLC
10 September 2020
 

10 September 2020

LOOPUP GROUP PLC
("LoopUp Group" or the "Group")

 

LoopUp Contract Wins, Business Update & Notice of Interim Results

 

-     Major new contract win with one of the world's top-5 law firms

-     Expanded partnership to FY2022 with C&W Communications

-     Launch of new online plans for LoopUp Meetings

 

LoopUp Group plc (LSE AIM: LOOP), the premium cloud communications provider, is pleased to provide the following business update and notice of its upcoming interim results for the period ended 30 June 2020 on Wednesday 23 September 2020.

 

Major Customer Wins:

The Group is pleased to announce that it has signed a significant new contract with one of the world's top-5 law firms. Following a successful pilot with 300 users, LoopUp Meetings will now be rolled out globally with the potential to become one of the Group's largest accounts.

 

This contract follows two other top-100 global law firm wins secured during July and August 2020, demonstrating LoopUp's continued success to expand its footprint in the Professional Services market.

 

Partnership expansion with Cable & Wireless:

LoopUp has also successfully expanded its existing partnership with C&W Communications, one of the leading telecommunications providers in the Caribbean and Latin America, in a new contract which will run through to the end of FY2022.

 

'Conferencing on Demand', powered by LoopUp - a white-labelled version of LoopUp Meetings - will now be included in C&W's core Unified Communications and Collaboration portfolio of products, with expanded distribution across 16 countries: Anguilla, Antigua & Barbuda, Bahamas, Barbados, British Virgin Islands, Cayman Islands, Dominica, Grenada, Jamaica, Montserrat, Saint Kitts and Nevis, Saint Lucia, Saint Vincent & the Grenadines, Turks & Caicos, Trinidad & Tobago, and later this year, Panama.

 

This expanded partnership also involves the internal deployment of LoopUp Meetings as another advanced conferencing tool for C&W's own internal corporate use.

 

Launched new online plans for LoopUp Meetings:

The Group has launched two new online plans for LoopUp Meetings to promote lead generation via the product's established network effect. These new offerings are aimed at individual users within target market professional services firms, who experience the product as guests of existing customers, and who then wish to try out the product for hosting their own online meetings.

 

The Free Plan is restricted to domestic meetings via the LoopUp join link with a maximum of 10 guests. The Business Plan upgrade is charged at a promotional level of £15/$15/€15 per month, which then removes the Free Plan's restrictions.

 

This move provides an opportunity for more target market users to try out and experience LoopUp Meetings in a freemium model and for 'land-and-expand' new business in target market accounts.

 

 

Notice of interim results:

The Group will announce its interim results for the period ended 30 June 2020 on Wednesday 23 September 2020.

 

Steve Flavell and Michael Hughes, co-CEOs of LoopUp Group, commented:

 

"We are pleased to announce the Group has secured these important contract wins demonstrating the continued momentum at LoopUp. Great communications have always been at the heart of successful organisations, now more than ever. We are delighted to be chosen and relied on to provide simple and secure business-critical communications in these challenging times."

 

 

Market abuse regulation:

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

 

For further information, please contact:

LoopUp Group plc

via FTI

 

Steve Flavell, co-CEO


 

 

Panmure Gordon (UK) Limited

 

+44 (0) 20 7886 2500

Dominic Morley / Alina Vaskina (Corporate Finance)


 

Erik Anderson (Corporate Broking)


 



Numis Securities Limited

+44 (0) 20 7260 1000

 

Simon Willis / Jonny Abbott (Corporate Finance)


 



FTI Consulting, LLP

+44 (0) 20 3727 1000

 

Matt Dixon / Emma Hall / Jamille Smith / Shamma Kelly


 

 

About LoopUp Group plc:

LoopUp (LSE AIM: LOOP) is a premium cloud communications solution for business-critical external communications. The solution combines premium remote meetings with inbound and outbound cloud voice services via Direct Routing integration with Microsoft Teams. Our customers benefit from a global fully-managed service, and an emphasis on security, reliability and simplicity, delivered with deep domain expertise and caring customer support. We're proud to be trusted provider to over 5,000 organisations worldwide, including more than 20 of both the world's top-100 law firms and top-100 private equity firms, as well as enterprises such as Travelex, Kia Motors, Planet Hollywood and National Geographic. The Group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados, and is listed on the AIM market of the London Stock Exchange (LOOP). For further information, please visit: www.loopup.com.

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Quick facts: LoopUp Group PLC

Price: 227

Market: AIM
Market Cap: £125.85 m
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