Announcement
EU Supply PLC : Contract Win
RNS Number : 6343W
EU Supply PLC
16 November 2017
16 November 2017
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract win
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that the Norwegian Road Authority ("Nye Veier") has declared an intention to award a contract to the Group.
The contract which is for delivery of CTMTM as SaaS and related services is currently expected by the Board to generate licence revenues, paid for enhancements and integrations of up to £150k for delivery between 2018 and 2020. The largest proportion of these revenues, associated with integrations, is expected to be delivered during 2018.
FURTHER ENQUIRIES
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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 8,000 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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