Notice of AGM and Update on New Enterprise Allowance
@UK PLC (AIM:ATUK.L), the cloud ecommerce marketplace, is posting today a Notice of AGM to shareholders. The AGM will be held on on 1 September 2011 at 10.00 am at Arbuthnot House, 20 Ropemaker Street, London EC2Y 9AR.
A copy of the Notice and of the Company's Annual Report and Accounts are available on the Company's website, http://www.uk-plc.net.
Update on New Enterprise Allowance
Further to its announcement released on 1 August 2011, the Company wishes to clarify that approximately 40,000 applicants will receive up to £ 1,000 from the Department of Work and Pensions. To the extent that any of the applicants spends any money with @UK, each pound will be incremental revenue to @UK. Thus, the approximate potential incremental revenue to @UK could be £ 40 million.
Ronald Duncan, Chairman
Tel: 0118 963 7000
Arbuthnot Securities Limited
Tel: 020 7012 2000
Caroline Evans-Jones/Alex White
Tel 020 7653 9850
@UK is Europe's leading Cloud Platform with over 1 million users, which is used for University and College's procurement along with Local Authority, Schools and other Government and Private sector procurement.
The GeM marketplace for Universities on Colleges is the only card based national marketplace in the world and was successfully delivered for the 800 Universities and Colleges and the 680 National Suppliers, proving that Cloud Ecommerce delivers large complex projects for Government on time and budget.
Richard Benyon MP, launched the @UK Green Ecommerce Marketplace back in October 2010, and it is now the largest repository of product carbon footprints in the World.
@UK was used by the National Audit Office to identify over £ 500 million in savings for 25% of NHS spend. The ground breaking SpendInsight system used to identify the savings resulted in the award of 2 PhD's in artificial intelligence.
@UK delivers key government commitments of Savings Sustainability, and SME Inclusion along with support for Start Ups. @UK PLC has now created over 200,000 start up businesses and recently launched a new Cloud-Start-Up.com service to provide a complete suite of cloud business software to startups along with the essentials of Limited Company, Bank Account, Domain Name, Email, Ecommerce, Accounting system and membership of the @UK business club.
@UK has 6 key competitive advantages
· SpendInsight uses unique artificial intelligence to automatically identify savings and is available on a national framework contract
· Ecommerce Marketplace realises the savings through correct pricing vs catalogue marketplaces which are unable to support carriage, or complex pricing
· GreenInsight provides unique sustainability analysis and
· Hybrid Carbon Footprints enabling universal carbon footprints at a price break through of £4 per item
· High performance cloud technology underpinning the system
· Start up service allowing start ups to immediately start trading
@UK is included in the Software and Computer Services Sector (9530).
For further information please visit the @UK PLC websites
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