Announcement
EU Supply plc - Contract wins
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has won its first order in a new EEC-member state Iceland, with an entity entering into a contract for the Company's CTM™ platform for more than two years, with implementation due to be completed during the third quarter of 2015.
In addition, in Denmark, EU Supply has entered into a four-year agreement with the last of the country's five regional governments. This means that all of Denmark's regional governments are using or will soon start to use EU Supply's CTM™ platform for their procurement. The implementation for the last regional government is also due to be completed during the third quarter of 2015.
In addition, Tender Lite is now being used by authorities and lead parties of consortia in a total of more than 40 authorities across Europe.
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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 e-sourcing, 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 10 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 when the Company raised £5.0 million before expenses. In July 2014, the Company raised a further £1.35 million by way of a placing of new ordinary shares, the proceeds of which were mainly used to strengthen the Company's balance sheet, provide working capital to support the growth of the business as it expands and aims to gain market share and to provide additional funds for sales and marketing.
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