RNS Number : 7346X
EU Supply PLC
24 February 2017
24 February 2017
EU Supply plc
("EU Supply", the "Company" or the "Group")
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has been awarded a grant from the European Union for the development of additional features to its CTM™ platform (the "Grant").
The Grant is expected to be worth up to €120,000 and to be received during 2017. It has been awarded for the development of certain additional features to the Company's CTM™ platform in order to meet new legislative requirements in the EU/EEC countries.
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.
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