RNS Number : 6630S
EU Supply PLC
23 December 2016
23 December 2016
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 entered into a contract for enhancements of its CTMTM platform with an existing customer in the UK.
The enhancement contract is expected to generate revenues of approximately £100,000, including maintenance and support, with the project work commencing in December 2016 and is expected to be completed in the first half of 2017.
In addition, the Group has been awarded several new smaller contracts in Scandinavia. Two of these contracts for EU Supply's CTMTM platform have been entered into with Verdo A/S, a leading European renewable energy group, and the Danish Ministry of Employment, which further consolidate the Group's strong market position in Denmark.
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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