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Lite Access Technologies shares shine as it receives plaudit for rural UK contract work

Gigaclear Networks recently inspected sites where Lite Access is currently installing multiple nodes simultaneously

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Lite Access has been on a job in the West Oxfordshire area

Shares in Lite Access Technologies Inc (CVE:LTE), the fibre optic trenching specialist, firmed on Monday as it has received positive reports for its work on a contract in West Oxfordshire in rural UK.

Gigaclear Networks recently inspected sites where Lite Access is currently installing multiple nodes simultaneously.

"We are pleased with Lite Access's construction activities in the West Oxfordshire area," said Mike Quinn, delivery director at Gigaclear Networks.

Broadband access in rural areas

"The effective performance of its team and deployment methodologies are helping to accelerate installation of our full-fibre broadband network in rural areas."

Lite Access noted that based on the positive review and continuing discussions, it firmly believes the firm is becoming an integral part of Gigaclear's future fibre expansion plans throughout the UK.

"We are thrilled to receive this positive feedback from Gigaclear - it is a credit to our strong culture, operational discipline, innovation and end-to-end capabilities," added Carlo Shimoon, president and chief executive at Lite Access.

"Our teams are delivering on their promise and commitment to execute fibre rollouts to the highest industry standard using the 'Lite Access way.'

"The Lite Access way provides a unique deployment methodology enabling faster, higher-quality deployment of fibre network infrastructure and allowing network providers faster customer acquisition rates.

"The U.K. government has made broadband Internet provision a policy priority, citing the economic and social benefits. Our large investment into U.K. operations is beginning to bear fruit as network providers such as Gigaclear Networks are realizing the advantages of utilizing our construction services.

"We are seeing the benefits of our capital expenditure-heavy/operating expenditure-light model and expect to use this as a template for smart completion of projects around the globe."

Shares added 7.50% to C$0.86.

Quick facts: Lite Access Technologies

Price: 0.69 CAD

TSX-V:LTE
Market: TSX-V
Market Cap: $41.32 m
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