Gigaclear successfully completes a new round of financing enabling it to accelerate fibre broadband deployments for additional rural communities
Nov 22, 2012 (M2 PRESSWIRE via COMTEX) --
Gigaclear Limited is pleased to announce that it has successfully concluded further equity financing for the Company that enables it to substantially accelerate the pace of its roll-out of ultrafast fibre-to-the-home (FTTH) broadband networks in rural UK communities.
Gigaclear, founded in 2010 by Mathew Hare, designs, builds and operates fibre broadband networks in rural UK communities. Its networks deliver ultrafast internet access at 1000Mbps, delivering broadband speeds in excess of those generally available even in cities. In the last 12 months Gigaclear has built two FTTH networks in the communities of Hambleton in Rutland and Appleton and Eaton in Oxfordshire. Customers are thrilled with the Gigaclear service, being able to communicate, work, entertain and play more effectively and reliably. The group also owns and operates six other rural community internet networks using other technologies such as wireless and xDSL.
The additional funds secured from a group of private investors will allow Gigaclear to expand substantially the number of communities it can serve with FTTH. This will be good news to the scores of rural communities which have registered interest with the company to bring Gigaclear services to their villages and towns.
Immediate plans are to build a further four networks in communities where substantial pre-orders have already been taken. The funding secured has exceeded Gigaclear's minimum requirement to fund these communities.
However, given the level of current engagement between Gigaclear and additional rural communities, the Company will continue to hold open its offer to investors on the same terms for a limited period. Cameron Barney LLP have been Gigaclear's financial advisers in arranging this transaction.
Matthew Hare, chief executive, Gigaclear said: "Gigaclear has successfully proven the level of demand for high speed internet in rural and semi-rural areas and has developed a business model which enables it to offer sensible returns to investors. It is now about rolling-out to more communities. The additional balance sheet strength we now have in place should secure Gigaclear's position at the forefront of rural broadband development."
For further information please contact: Gigaclear Matthew Hare +44 7768 140 180 Joe Frost +44 0788 7955 093 www.gigaclear.com Gigaclear
PR Contacts: Jane Harris Alexander PR +44 (0) 7793 917172 Jane@alexander-pr.co.uk Jillian Alexander Alexander PR +44 (0) 7946 602484 Jillian@alexander-pr.co.uk Cameron Barney LLP Brian Robertson +44 7710 094 125 Charles Cameron +44 7785 292 019
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