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KPN Commitment

22nd Apr 2013 07:00

RNS Number : 8451C
Artilium PLC
22 April 2013
 



22 April 2013

Artilium plc

("Artilium" or the "Company")

 

KPN commitment for the coming two years yields a stable base for Artilium business and secures Euro 3.3 million in cash this month

 

 

Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, reports a significant commitment by its largest customer securing its relation for the coming two years.

 

KPN Group Belgium has decided, given the partnership and improved customer satisfaction, to make a commitment to Artilium for the services it is due to receive over the next two years. As a result, Artilium has secured a cash payment to be effected this month of approximately Euro 3.3 million for revenue which will be recognised in equal instalment over the next eight quarters.

 

Patrick Morley, Chairman, commented:

"This commitment by KPN Group Belgium clearly shows Artilium delivers quality of service to its customers. Based on this positive result with our largest customer we feel confident that we can expand our managed services business further. Our approach remains unchanged and the cash payment will be used to improve our working capital position."

 

 

 

 

 

For further information please contact: 

Artilium PLC:

 +32 (0)50230300

Patrick Morley -  Non-Executive Chairman,

Willem Van Den Brink - CEO - Executive Director

Maarten Bisseling - Executive Director

Jean-Paul Menke - Non- Executive Director

 

 

Westhouse Securities:

 +44 20 7601 6100 

Antonio Bossi

Henry Willcocks

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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