Business
AGM & Trading Update
AGM & Trading Update.
About this update from Cloudcoco Group Plc
[{"type":"text","content":"\n \nRNS Number : 7432D Pinnacle Telecom Group PLC 28 March 2011 \n \n\n28 March 2011 \nPinnacle Telecom Group plc (\"Pinnacle or the Company\")\n \nResult of Annual General Meeting & Trading Update \n \nAt the General Meeting of the Company held today, all resolutions were duly passed.\n \nFollowing completion of the AGM, the CEO, Alan J Bonner, issued a trading update as follows:\n \n\"Building on the acquisition and integration activity of the last year, and to strengthen our capability in the provision of IP and cloud-based solutions, we have entered into a supply agreement with TalkTalk Business for an interconnect into TalkTalk's Next Generation Ethernet Network. By combinng this with Pinnacle's network, we are now able to offer Ethernet services from over 2000 exchanges across the UK. As businesses start migrating to virtualisation of their servers, the cloud for their business software applications and a reliance of online data storage, the demand for high quality Ethernet connectivity will increase dramatically. Pinnacle will be one of the first Service Providers to offer 20Mb Ethernet First Mile products when they are launched later this year.\n \nWe are now very active in looking at the potential acquisition of a number of companies. As already outlined to shareholders, our continuing strategy is to seek out well-priced and timely acquisitions. We are currently seeking businesses that are capable of migrating their customer bases from traditional technologies, onto next generation Internet Protocol (IP) and cloud-based technologies.\n \nWe are very pleased to report that whilst remaining free of bank debt, we continue to deliver positive EBITDA, which is a key performance indicator that is reported to the Board on a monthly basis. \n \nGiven our sucess with the BBC relating to short-term connectivity for various high profile events, we expect to win additional contracts of this nature from other broadcasters through 2011.\"\n \n \nAll Company announcements & news can be found on http://www.pinnacletelecomgroup.co.uk\n \n\n\n\n\nFor further information please contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nPinnacle Telecom Group plc\n\n\n\n\n\n\n\nAlan J Bonner, Chief Executive \n\n\n0845 180 7474\n\n\n\n\n\n\n\n\n\n\n...