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RNS Number : 6181J

EU Supply PLC

13 September 2016

 

13 September 2016

EU Supply plc

("EU Supply", the "Company" or the "Group")

 

Renewal of agreements

 

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that the Company has renewed its distribution agreement with CTM Solutions BV in the Netherlands for a minimum of 3 years. This agreement originates from 2007 and is on a revenue share basis. As part of the renewal, the Group will also deliver certain services for approximately €75,000.  

 

The Group has also received notice from the Minister for Public Expenditure and Reform in Ireland executing their option to extend the existing agreement between the parties until May 2020.

 

In addition, the Group has received an intention to award for a 3-year agreement (plus the option to extend for 1 year) with existing customer Fællesudbud Sjælland (a consortium comprising over 15 Danish municipalities). The intention to award also includes the option for additional municipalities to use the Group's CTM™ platform. This renewal confirms the Group's strong market position in Denmark.

 

Martin Kilbane, eProcurement Lead, Office of Government Procurement, commented 

"We are pleased with the service received from EU Supply in respect of their platform CTMTM. It has added significant value to public procurement for public sector bodies in Ireland. We now look forward to working with EU Supply for another 3 years to meet Ireland's needs in relation to electronic procurement and to be compliant with the European Union's procurement directives and National legislation."

 

 

 

FURTHER ENQUIRIES

EU Supply PLC Tel: 020 7127 4545 Thomas Beergrehn, CEO   Mattias Ström, CFO       Stockdale Securities Tel: 020 7601 6100 Tom Griffiths, David Coaten

 

A copy of this announcement is available at www.eu-supply.com.

 

Notes to Editors

EU Supply is the UK holding company of the EU Supply Group, a Sweden-based e-commerce business, which has an established, market-leading, multilingual e-procurement platform for esourcing, e-tendering and contract management, tailored for the highly regulated European public sector market.

Since 2006, the Group has invested heavily in employing specialist programmers to add functionality, legal compliance as required and security features to its Complete Tender Management™ ("CTM™") platform to ensure that the Group is ideally placed to secure new contracts with EU Member States and their Contracting Authorities. The platform is available in 16 different languages.

The Directors believe that the Group's CTM™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ platform is used by over 7,000 European public sector bodies in 9 EU/EEC Member States and has National Procurement System status in four Member States (the UK, Ireland, Norway and Lithuania).

The Company's shares were admitted to trading on AIM in November 2013. In August and September 2015, the Company raised a total of £2.061m (before expenses) through a placing of new shares and the issue of first and second tranches of Convertible Loan Notes to institutional and other investors.

This information is provided by RNS

The company news service from the London Stock Exchange

 

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RNS Number : 1944I

Osirium Technologies PLC

26 August 2016

 

Osirium Technologies plc

 

("Osirium" or "Group")

 

Contract win with a leading global asset management company

 

Osirium Technologies plc (AIM: OSI.L), a UK based cyber-security software provider, is pleased to announce a significant contract win with a leading global asset management company.  The asset manager has over £300 billion of assets under management and offices in c.30 countries.

 

Under the terms of the contract, Osirium will deliver its full product offering of Privileged Account Management, Privileged Task Management and Privileged Session Recorder software modules to 3,000 devices. As part of the contract Osirium will also provide its consultancy services. The contract is expected to deliver a material financial contribution in the current year and will run over a three year term.   

 

David Guyatt, Chief Executive Officer, commented: "We are delighted to sign this major new customer within the financial services sector, which is testament to our position as a trusted and reliable partner to help protect a Company's critical IT assets from cyber-attacks.  This is the largest single contract negotiated in the Group's history and Osirium looks forward to working closely with our new partner to combine cyber security with task automation benefits."  

 

For further information:

Osirium Technologies plc	Tel: 44 (0) 118 324 2444
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer www.osirium.com
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)	Tel: +44 (0) 20 7886 2500
Fred Walsh / Peter Steel / James Greenwood/ William Wickham – Corporate Finance Charles Leigh-Pemberton – Corporate Broking
Hollins Communications (Financial PR) Sarah Hollins	Tel: +44 (0) 7764 947137

 

The information communicated in this announcement is inside information for the purposes of Article 7 of Market Abuse Regulation 596/2014 ("MAR").

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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Neville Registrars is delighted to welcome LoopUp Group plc as the newest addtion to its list of client companies.

LoopUp™ is a Software-as-a-Service (SaaS) conferencing solution for remote enterprise meetings.

Further information can be found on the Company's website:http://loopup.com/enuk/

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RNS Number : 9541H

LoopUp Group PLC

24 August 2016

 

 

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

 

 

24 AUGUST 2016

 

LoopUp Group PLC

("LoopUp" or the "Company")

Admission to Trading on AIM and First Day of Dealings

LoopUp Group PLC,  a global software-as-a-service ("SaaS") provider of remote meetings, is pleased to announce that Admission of its ordinary shares to trading on the AIM market of the London Stock Exchange will take place at 8.00am today, 24 August 2016.  Dealings in the ordinary shares will commence under the ticker LOOP, with ISIN GB00BYQP6S60.

 

Upon Admission, the Company will have a market capitalisation of approximately £40.8m, following a successful Placing with institutional and private investors of LoopUp Group ordinary shares, raising total gross proceeds of £8.5m at a Placing price of 100 pence.

 

The total number of voting rights in the Company with effect from 24 August 2016 will be 40,784,176. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

Panmure Gordon (UK) Limited ("Panmure Gordon") is acting as Nominated Advisor and sole Broker to the Company.

 

Commenting on Admission, Steve Flavell, Co-Chief Executive Officer of LoopUp Group, commented:

"The completion of the IPO process marks an important and exciting milestone on LoopUp's journey as a UK-headquartered and internationally-minded technology company, and provides a significant catalyst for our continued growth. The reception from investors has been positive and encouraging, and reinforces our belief that our differentiated product, business model and plans for the future provide the foundation needed to deliver on our potential as a public company. Our focus will continue to be on delivering an exceptional product and service to our customers around the world, supported by the funds we've raised and emboldened by the faith our new shareholders have placed in us. These are exciting times."

 

The Company's AIM Admission Document can be viewed at: http://www.loopup.com/enuk/investors/documents

 

* * * * *

 

 

For further information please contact:

 

LoopUp Group PLC	via FTI Consulting, LLP
Steve Flavell, co-CEO
Michael Hughes, co-CEO
Panmure Gordon (UK) Limited	+44 (0) 207 886 2500
Fred Walsh / Alina Vaskina / William Wickham (Corporate Finance)
Erik Anderson / Amy Sarra (Corporate Broking)
FTI Consulting, LLP	+44 (0) 203 727 1000
Matt Dixon / Chris Lane / Roger Newby

 

Panmure Gordon, which is authorised and regulated by the Financial Conduct Authority, is acting for LoopUp and for no-one else in connection with the Placing and Admission and will not be responsible to anyone other than LoopUp for providing the protections afforded to clients of Panmure Gordon, or for providing advice in relation to the Placing and Admission or any matters referred to this announcement.

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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Neville Registrars is delighted to welcome SWP Group plc as the newest addtion to its list of client companies.

SWP Group designs, manufactures and installs a range of industrial engineered products and systems, serving international markets in the following sectors:

• Oil, Gas and Petrochemical
• Construction
• Water Utilities

Further information can be found on the Company's website:http://www.swpgroupplc.com/

 

 

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RNS Number : 8065H

Galileo Resources PLC

22 August 2016

 

 

 

 

For immediate release

 

22 August 2016

Galileo Resources Plc

("Galileo" or "the Company")

 

Study Increases Significantly Concordia Potential Size   

 

 

Galileo (AIM: GLR), the exploration and development mining company, is pleased to announce the completion of an exploration desktop study, (previously announced near completion on 15 June 2016), which has identified and ranked seven high priority additional prospective copper targets within the Concordia Project with the potential of accommodating a significant volume of possible copper mineralised host litholigies. The study was conducted by independent multifaceted South African geological and mining consultant Minxcon Consulting (Pty) Ltd ("Minxcon"): http://www.minxcon.co.za/.

 

Highlights

 

·     An additional twenty seven prospective copper targets identified within the Concordia Project area in addition to the seven regarded as high priority targets 

 

·     The seven high priority targets present potential for shallow, near surface, open pit copper mineralised zones

 

·     The targets including those as high priority for exploration by the Company and Minxcon currently host conceptually 798.55 million host lithology tons, estimated to contain 50% mineralised host at a mean grade 0.57% Cu

 

·     All the targets studied are based on areas of existing documented and/or mapped copper occurrences that have the potential for extensions along strike and/or dip

 

·     Other identified areas are currently under investigation to increase project size potential.

 

·     Definitive Induced Polarisation (IP) geophysics to commence during 3rd quarter 2016

 

Colin Bird Chairman and CEO said "We are delighted with the progress on the Concordia project. The area is huge and our open pit model was never previously investigated in this area.  The targeted conceptual tonnage and copper grade compare very favourably with global projects currently being developed or at an advanced feasibility study stage. Other additional areas within the Concordia concession that fit our model have been identified for further investigation. The Company continues with reiterative analyses of the base data and targets consequently continue to change priority against our internal model criteria. We are highly encouraged with the results so far and the next stage exploration with IP geophysics is planned with a view to closer definition of the mineralised targets before undertaking confirmatory resource definition drilling".

 

Following on previous preliminary modelling, Minxcon conducted a desktop study on some thirty four targets to identify and rank prospective areas. Minxcon sourced additional historical data, conducted an independent re-interpretation of existing data, and identified seven prospective, copper targets within the Concordia Project with the potential of accommodating a significant volume of possible copper mineralised host lithologies. Five of the targets identified, present potential for shallow, near surface, open-pit copper mineralised zones. Minxcon has ranked these high priority targets in the order shown in Table 1 below. The Minxcon and Galileo teams grouped some selected targets based on synergies relating to coherent geological structure, geophysical anomalies and relative locality into the eastern Homeep Trend, the western Shirley Trends and the Henderson area.

 

Table 1 : High Priority Targets Identified During the Minxcon Desktop Study (a)

Project	Strike	Width	Depth	%Cu	Lith Tonnes	Cu Tonnes
	m	m	m	%	Mt	Mt
Homeep	5000	38.8	300	0.58	168.56	0.49
Koeëlkop (incl. Whytes' West)	4000	30.0	300	0.57	104.40	0.29
Henderson	1500	38.8	300	0.58	50.57	0.15
Ring Dyke	2000	38.8	300	0.58	67.43	0.19
Tweefontein	2000	38.8	300	0.58	67.43	0.19
Klondike	2000	25.0	300	0.63	43.50	0.14
Henderson North	1000	38.8	300	0.58	33.71	0.10
Shirley	5000	38.8	300	0.58	168.56	0.49
Horneman	1100	38.8	200	0.58	24.72	0.07
Kliphoog North	1300	38.8	200	0.58	29.22	0.08
Hester Maria	1800	38.8	200	0.58	40.46	0.12
Total					798.55	2.31

(a) Notes (Table 1): Copper tonnes reported equates to approximately 50% of potential host lithology being mineralised (based on current available data)

 

The above desk top study followed on from the previously announced preliminary initial modelling on the four target areas; namely Wheal Julia and Koeëlkop (announced 29 March 2016), Whyte's West (announced 13 April 2016) and Klondike with a new identified prospect Homeep East (announced  10 May 2016). The high level estimates generated previously for these four historically drilled prospects are collated in table 2 below. Of note is the low percentage of the total strike modelled (based on available historical data) against the interpreted true strike.

 

 

 

 

 

 

Table 2: The Results of the Non-Compliant Mineral Resource Estimates Conducted by Minxcon

Prospect	Cut-off Grade	Tonnes	Cu Grade	Cu Content	Metres Modelled	% Strike Modelled
	% Cu	Mt	%	Tonnes	m	%
Koeëlkop*	0.2	10.9	0.35	38,238	1,400	35
	0.35	4.2	0.51	21,205
Wheal Julia	0.2	62.6	0.44	275,459	750	37.5
	0.35	37.7	0.55	207,863
Whyte's West*	0.2	34.6	0.39	135,918	390	9.75
	0.35	15.1	0.54	81,894
Klondike	0.2	2.5	0.57	14,263	700	35
	0.35	2.1	0.63	13,141
Total	0.2	110.6	0.42	463,878	3,240	40.5
	0.35	59.1	0.55	324,103

Notes (Table 2):

*   Combined Strike Modelled  = 44.75% as in portions of the targets in question 

 

Minxcon Disclaimer: "Minxcon has ranked the targets resulting from the desktop study in table 1, based upon its perception of the data available to them at the time of the desktop study. The above tables are subject to change with the progression of exploration activities. The above targets represent areas of documented and/or mapped copper occurrences (based on existing data), or in some cases even historical mines (Henderson (Jubilee Mine), Homeep and Wheal Julia) and have the potential for extensions along strike and/or dip. The figures in the tables presented should in no way be misconstrued to represent compliant Mineral Resource estimates nor to represent the definition of a compliant Exploration Target in terms of the various Reporting Codes, as all tonnages, grades, depths and strikes are highly conceptual in nature at this stage and require the proper exploration practices in order to prove their existence or to convert them eventually to a compliant Mineral Resource."

 

General

 

Galileo has the right to earn-in a 51% beneficial interest in the Concordia copper project, by way of 51% beneficial shareholding in Shirley Hayes IPK (Pty) Ltd ("SHIP") on expenditure of ZAR10million (approximately GBP500 000) over 14 months on exploration and development. SHIP holds the copper prospecting rights to the 36,373-hectare (364 km2) Project Area in the OKiep Copper District in the Namaqualand Complex in the Northern Cape Province of South Africa.

 

Further details are available from the Company's website which details the Company's project portfolio as well as a copy of this announcement: www.galileoresources.com

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

ENDS

You can also follow Galileo on Twitter: @GalileoResource

 

Technical Sign-Off

Andrew Sarosi, Director of Galileo, who holds a B.Sc. Metallurgy  and M.Sc. Engineering, University of Witwatersrand and is a member of the Institute of Materials, Minerals and Mining, is a "qualified person" as defined under the AIM Rules for Companies and a competent person under the reporting standards. The technical parts of this announcement have been prepared under Andrew's supervision and he has approved the release of this announcement.

 

 

 

 

 

For further information, please contact:

 

Galileo Resources PLC Colin Bird, Chairman	Tel +44 (0) 20 7581 4477
Andrew Sarosi, Executive Director	Tel +44 (0) 1752 221937
Beaumont Cornish Limited  – Nomad   Roland Cornish/James  Biddle Beaumont Cornish ted – Nomad Roland Cornish/James Biddle	Tel +44 (0) 20 7628 3396
Beaufort Securities Limited – Broker Jon Belliss	Tel +44 (0) 20 7382 8416

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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RNS Number : 3595H

Tracsis PLC

17 August 2016

 

17 August 2016

Tracsis plc

("Tracsis" or the "Group")

 

North American contract win

 

Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to announce that it has signed a significant order with a North American Class 1 railroad operator for its Remote Condition Monitoring (RCM) technology, which marks the Group's first major contract in North America.

Under the terms of the agreement, the initial order comprises the outright purchase of RCM hardware units, a software licence for the Group's data aggregation and analysis tool Centrix, and various ancillary products.  The RCM units will be installed in the coming months across multiple geographic locations on the client's network.  The total order value is in excess of $0.4m and is expected to be fulfilled before the end of 2016.

The Directors continue to view the US rail industry as being the largest and most accessible growth market for the Group's RCM technology.  This latest contract win illustrates that Tracsis has the capability and product set to address this large overseas market opportunity, although the specific timing of further sales in new territories remains difficult to predict.

The Group will issue a full year end trading update on Monday 22 August 2016.

John McArthur, Chief Executive Officer, commented: 

"We are delighted to have secured this significant order with a major class 1 operator having clearly demonstrated the business case and benefits of our remote condition monitoring technology. We are hopeful that this contract will lead to a further roll out across the client's network in the fullness of time and also act as a valuable reference case with other US rail customers."

For more information please contact:

John McArthur/Max Cawthra, Tracsis plc	Tel: 0845 125 9162
Dominic Emery/Matt Lewis, Investec Bank plc	Tel: 020 7597 4000
Rebecca Sanders-Hewett / Sarah Fabietti / Sam Modlin Redleaf Communications	Tel: 0207 382 4730 Tracsis@redleafpr.com

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation 9EU) No. 596/2014.

Notes to editors: 

§ The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.

§ Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers. 

§ The Company offers the following services:

–  Rail Technology & Services: Software and technology led consulting, and Remote Condition Monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

–  Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.

§ Tracsis has a blue chip client base which includes the majority of UK transport operators.  The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, Silverstone, Goodwood, and a variety of large engineering/infrastructure companies.

§ The business drives growth both organically and through acquisition and has made eight acquisitions since 2008.

§ Tracsis listed on AIM in 2007 under ticker TRCS.

§ For more information visit http://www.tracsis.com

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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RNS Number : 2352H

Gresham House PLC

16 August 2016

 

16 August 2016

 

Gresham House plc ("Gresham House" or "the Company")

 

(AIM: GHE)

 

Gresham House Achieves First Close of Strategic Public Equity Fund LP

 

Gresham House, the specialist asset manager, is pleased to announce the first close of the Gresham House Strategic Public Equity Fund LP (the "SPE Fund LP") with commitments, including co-investment contributions, of £24 million.  The Company has committed £1.5 million to co-invest alongside the SPE Fund LP.  As announced by Gresham House Strategic plc ("GHS") today, GHS will be co-investing £7.5m alongside the SPE Fund LP via the transfer of 3,875,969 IMImobile ordinary shares into the co-investment structure at a price of 193.5p. 

 

The SPE Fund LP means that Gresham House Asset Management's ("GHAM") strong performing Strategic Public Equity ("SPE") investment strategy is now accessible to investors who favour limited partnership structures, including private equity fund investors, family offices and ultra-high net worth individuals. The SPE Fund LP will be a sister fund to Gresham House Strategic plc with both vehicles investing and divesting in the same opportunities. GHS and the SPE Fund LP will be managed by the same investment committee and investment team led by Tony Dalwood and Graham Bird.

 

The increased size of the shared SPE mandate will enable the investment team to combine the investment capacity of GHS and the SPE Fund LP to access larger deals of greater unit size.

 

Anthony Dalwood, CEO of Gresham House, said:

 

"Launching a limited partnership vehicle is part of our approach to grow assets under management organically. I am very pleased with the initial investor demand which includes strong support from a pension fund cornerstone investor.  This is a strong endorsement for our Strategic Public Equity strategy. 

 

"The Private Equity approach to smaller quoted companies has generated a pipeline of primary growth capital opportunities alongside secondary and pre-IPO potential investments."

 

 

Enquiries:

 

Gresham House plc Anthony (Tony) Dalwood	020 3837 6270
Liberum Capital Ltd Neil Elliot Jill Li	020 3100 2000
Montfort Communications, PR Adviser Gay Collins Rory King	greshamhouse@montfort.london 0203 770 7906

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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RNS Number : 7346G

Genedrive PLC

10 August 2016

 

 

RNS Reach

For release: 10 August 2016

 

Genedrive® IL28B Genotyping Assay to be used in STOP-HCV-1 Clinical Trial

 

Genedrive plc (LSE: EHP), the near patient molecular diagnostics company which recently changed its name from Epistem Holdings plc, today announces that its Genedrive® point of care IL28B human genotyping test will be used in the STOP-HCV-1 clinical trial being run by STOP-HCV, a consortium designed to use stratified medicine to optimise the treatment of patients with Hepatitis C Virus infection. The trial is designed to assess the effectiveness of different treatment durations with Direct Acting Antiviral (DAA) treatments on Hepatitis C (HCV) genotype 1 patients (http://www.stop-hcv.ox.ac.uk/stop-hcv-1-trial).

 

Direct Acting Antiviral (DAA) treatments are a new range of drugs which are replacing interferon and other established treatments for HCV. The new DAA treatments regimens are of a shorter duration (12 weeks or less), are well tolerated and offer a much improved chance of cure than earlier treatments. However, costs remain high and, at present, there are no molecular diagnostic tests to predict patients' response to treatment.

 

The STOP-HCV-1 clinical trial will assess two NICE approved DAA treatment combinations and whether the addition of another, older drug (ribavirin) has value in short course treatment. The project is funded by the Efficacy and Mechanism Evaluation (EME) Programme, an MRC and NIHR partnership. Around 400 patients are expected to be recruited during 2016 and 2017. The aim is to discover which patients may be cured by shorter courses of therapy and how new techniques in molecular diagnostics, including the Genedrive® IL28B point of care test, may be used to predict patient response. Genedrive will provide 20 Genedrive® units and 400 tests for use in the trial.

 

The Genedrive® test produces results within 50 minutes from a simple cheek (buccal) swab compared to the standard approach which uses a blood sample and which can have a service lab return time of 2-3 weeks for results. A recent clinical trial showed the Genedrive® IL28B test was 100% accurate at detecting genetic polymorphisms in HCV patients when compared with the current 'gold-standard' laboratory test.

 

Dr Graham Cooke, Chief Investigator of the STOP-HCV-1 clinical trial, said: "We are pleased to incorporate the Genedrive® IL28B point of care genotyping test in the STOP-HCV-1 clinical trial which aims to identify key markers to guide the duration of treatment required for HCV patients."

 

David Budd, CEO of Genedrive, commented: "The inclusion of our Genedrive® IL28B genotyping test in the STOP-HCV-1 clinical provides further validation of the potential of Genedrive® in point of care genotype diagnostic testing.

 

If the STOP-HCV-1 clinical trial demonstrates that the IL28B genotype is a reliable indication of patient response to shortened DAA treatment, we would anticipate a role for the Genedrive® IL28B test in future HCV treatments. The Genedrive® IL28B  test has been developed alongside the Genedrive® HCV test which is scheduled for market launch in 2017."

 

 

– Ends –

 

 

For further details please contact:

Genedrive plc

David Budd: CEO                                                                                                              +44 (0)161 989 0245

John Rylands: Finance Director

 

Peel Hunt LLP (NOMAD)

James Steel                                                                                                                        +44 (0)207 418 8900

Oliver Jackson

 

Consilium Strategic Communications

Chris Gardner                                                                                                                    +44 (0)203 709 5700

Matthew Neal

Laura Thornton

genedrive@consilium-comms.com 

 

 

Notes to Editors

 

Genedrive plc is a molecular diagnostics company developing and commercialising a low cost, rapid, versatile, simple to use and robust point-of-need or point-of-care diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. The Genedrive® platform and MTB/RIF test have been launched in India and a Genedrive® HCV test has been successfully assessed by the Institut Pasteur, Paris.

 

Genedrive plc was formerly Epistem plc and continues to provide contract research services to drug development companies under the Epistem brand name.

 

Further details can be found at: www.genedriveplc.com and www.genedrive.co.uk

 

 

This information is provided by RNS

The company news service from the London Stock Exchange

 

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RNS Number : 3991G

Altitude Group PLC

05 August 2016

 

Altitude Group plc

("Altitude" or the "Group")

Technology Partnership Agreement

 

Altitude Group plc, the provider of innovative technology solutions for small to medium sized businesses, is pleased to announce that its wholly owned subsidiary, Customer Focus Software Inc., has agreed a five-year agreement with Philadelphia, PA based AI Mastermind, a leading buying group serving more than 1,000 promotional product resellers representing over $200 million in annual sales in North America (the "Agreement")

Under the terms of the Agreement, Altitude will provide each AI Mastermind member with an ecommerce website that uses the Group's unique proprietary technology. Altitude will receive a share of the gross margin on all orders that are processed through the platform.

The Agreement is for an initial five-year term, with automatic renewal for a further five years. The Directors expect the first customers to be live by October 2016 and the deal to be earnings enhancing from launch.

Peter Hallett, Non-Executive Chairman of Altitude, said "AI Mastermind is one of  the fastest growing and highly respected buying groups in the $22 billion personalised product industry within the USA. This agreement further validates our decision to focus on sharing of revenue throughput. It gives Altitude access to 1,000 customers for an extremely low acquisition cost, and delivers our unique click to shiptm technology to them instantly."

Jamie Coggeshall, President and AI Mastermind, said, "We are delighted to offer this new solution to our members. We have partnered with Customer Focus on their order management solutions for the last three years and are delighted to now be able to offer this superb new ecommerce website solution that will allow our members easy access to the fastest buying channel. AI Mastermind members already enjoy incredible value for a low monthly fee and they now get the best online shopping experience in the world for no extra charge."

 

 

Enquiries:

Altitude Group plc

Peter J Hallett (Non-Executive Chairman)

Tel: 07887 987469

 

WH Ireland Limited (Nominated Adviser and Broker)

Tim Feather

Liam Gribben

Tel: 0113 394 6600

This information is provided by RNS

The company news service from the London Stock Exchange

 

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