Announcement
EU Supply PLC : Contract Wins in Germany
RNS Number : 9630H
EU Supply PLC
21 November 2018
RNS Reach
21 November 2018
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract Wins in Germany
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it is continuing to gain sales traction in Germany. This follows further improvements of the Company's approach with sales agents in Germany and the recent appointment of an in-house application consultant.
As a result, EU Supply has signed two further contracts in Germany, one with a local authority and one with a procurement consultancy specialising in supporting local authorities in defined categories.
In addition, EU Supply has also agreed on a rapid piloting programme with one of the seven county councils ("Bezirks") in the State of Bavaria, using the CTMTM platform for managing tenders in works categories. Implementation has already started.
Thomas Beergrehn, CEO of EU Supply, commented:
"I am pleased to see continued growth, particularly with new clients in Germany. Demand seems to be unrelated to the EU Directives. We continue to believe that there is further potential for strong growth with new clients going forwards."
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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 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 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. On 25 May 2018, the Company announced that it had raised a further £600k (before expenses) through a placing and subscription of new shares.
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