Cityfibre Infrastructure Holdings plc (CFHL)

 

LSE:CFHL: CityFibre selects Glasgow as next Gigabit City

Cityfibre Infrastructure Holdings plc

26 Nov 2015 07:00:08

CityFibre Infrastr.

RNS Number : 9974G
CityFibre Infrastructure Hldgs PLC
26 November 2015
 

For immediate release

26 November 2015

 

 

CITYFIBRE INFRASTRUCTURE HOLDINGS PLC

('CityFibre' or the 'Group' or the 'Company')

 

CityFibre selects Glasgow as next Gigabit City

 

CityFibre (AIM: CFHL), a leading designer, builder, owner, and operator of fibre optic infrastructure in UK towns and cities, is pleased to announce the selection of Glasgow as its next Gigabit City project. The Group has signed a 10-year deal with Inverness-based business ISP HighNet, under which HighNet will migrate 100 of its existing customers onto a new fibre network to be constructed by CityFibre in Central Glasgow.

 

This first phase of what is anticipated to be a significant network deployment programme in the city carries a total contract value (TCV) of £3m, with high TCV/capex coverage. Separately, HighNet has also committed to migrate a minimum of 50 customers onto the CityFibre network currently under construction in Aberdeen. 

 

Following on from previously announced contract wins in Newport and Edinburgh, Glasgow is the third new city expansion announced during financial year 2015, and takes new lifetime TCV added during the year to approximately £29m.

Greg Mesch, Chief Executive of CityFibre, commented:

"We're delighted to be partnering with HighNet to launch Scotland's newest Gigabit City. HighNet have made this project possible and their strong customer base and impressive partner network will be crucial to its success. This announcement marks our third Gigabit City project in Scotland, and upon its completion, CityFibre will have an established network presence in Scotland's four largest cities, making us the largest wholesale fibre infrastructure provider in the country after BT Openreach."   

 

 

 

 

 

For further information, please contact:

CityFibre Infrastructure Holdings plc

www.cityfibre.com

Greg Mesch, Chief Executive Officer

Tel: 0845 293 0774

Terry Hart, Chief Financial Officer

 

James Enck, Head of Investor Relations

Tel: 0333 150 6283

 

 

finnCap (Nomad and Joint Broker)

www.finncap.com

Stuart Andrews / Christopher Raggett (Corporate Finance)

Tel: 020 7220 0500

Simon Johnson (Corporate Broking)

 

 

 

Liberum (Joint Broker)

www.liberum.com

Steve Pearce / Steven Tredget / Richard Bootle

Tel: 020 3100 2000

 

 

Vigo Communications

www.vigocomms.com

Jeremy Garcia / Fiona Henson

Tel: 020 7016 9570

 

About CityFibre:

CityFibre enables gigabit connectivity through designing, building, owning, and operating fibre optic network infrastructure. It is the largest independent wholesale provider of fibre infrastructure to mid-sized cities and major towns across the UK, providing gigabit-capable infrastructure for enterprise and public sector organisations, service providers, mobile network operators and businesses.

The Group owns and operates 618 route kilometres of local access networks serving 1,017 customer connections in 61 towns and cities in the UK, including Aberdeen, Bath, Bournemouth, Coventry, Derby, Doncaster, Dundee, Edinburgh, Huddersfield, Kingston-upon-Hull, Newcastle, Newport, Peterborough, Sheffield, and York.

To date the Company has launched six Gigabit City projects in York, Peterborough, Coventry, Aberdeen, Edinburgh, and Glasgow, where city-wide pure fibre networks known as 'COREs' bring world-class Internet connectivity and the benefits of gigabit speeds to every aspect of the city's community. The Company has also delivered the UK's first dark fibre-based Fibre-to-the-Tower network in Kingston-upon-Hull, under a national framework agreement with MBNL, Three UK and EE.

The CityFibre COREs are deployed using the Company's Well Planned City (WPC) design philosophy, in which its city-wide core fibre infrastructure is designed with thousand-strand fibre cables in dual ducts optimally routed to serve the present and future demand of the public sector, mobile base stations, business park estates, and ultimately designed to serve as feeder and distribution network for Fibre-to-the- Home deployments.

CityFibre is also a founding member of a joint venture with TalkTalk and Sky. Established in early 2014, the collaboration aims to prove the viability of gigabit speed Fibre-to-the-Premises (FTTP) networks and services for homes and businesses. Work is currently underway to connect tens of thousands of homes and businesses in York to a future-proof FTTP modern digital infrastructure.

CityFibre is based in London, United Kingdom, and its shares trade on the AIM Market of the London Stock Exchange (AIM: CFHL). To find out more, please visit: www.cityfibre.com

 


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