Announcement
EU Supply PLC : Contract wins
RNS Number : 8065R
EU Supply PLC
05 March 2019
5 March 2019
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract wins
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce strong demand in its target markets for 2019.
In particular, the Company has been awarded the following contracts with new clients in both Denmark and Germany:
· A new procurement service provider in Denmark, which is live with the Company's CTMTM solution.
· Two new clients in the Danish public sector, which were awarded following competitive tender processes, both of which migrated from a competitor's solution and are live with the Company's CTMTM solution.
· Two new clients in Germany, one of which is now live with Company's CTMTM solution.
In addition, the Group has configured its solution for use in the tendering process for the Femern Tunnel, which is proposed to connect Denmark and Germany and is believed will become the longest combined rail and road tunnel worldwide. The overall construction phase is expected to be 8 to 9 years. Some of Europe's largest contractors and contract managers are expected to be involved. The first tenders for the project have been published on the Company's CTMTM platform.
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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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