3 Dec 2010 12:03
For Immediate Release
3 December 2010
@UK PLC
("@UK" or the "Company")
AGM Statement and Results
@UK, the AIM-traded eMarketplace and provider of eProcurement and eCommerce software, held its Annual General Meeting today at 10am at the Company's headquarters in Aldermaston. At the meeting, Executive Chairman Ronald Duncan, made the following statement:
"We continue to make considerable progress at @UK. The spending review implemented by the Government has caused a significant increase in enquiries from Local Authorities, Universities, NHS Trusts and other Government bodies regarding our eProcurement system as they seek to implement the required levels of cost savings.
Our recent launch into the higher education sector, via our agreement with Barclaycard, is also progressing well, and we expect the first Universities to sign agreements within the next quarter.
We continue to sign new suppliers onto our marketplace, such as Findel Education announced last month, and have seen the number of products available via our platform increase by over 20%.
This progress is underpinned by a strengthening financial position and has allowed us to increase our sales, marketing and development resources.
Our long-standing reputation in the eProcurement industry, the significant investment we have made into our platform and the value of our business relationships with market leaders such as Barclaycard means we believe we are well positioned to benefit from the exciting market opportunities currently in front of us. We have increased investment in the business to manage this increased level of enquiries and expect to see pull through of this investment in the coming calendar year. We therefore have great confidence in the future success of the Group and our ability to drive increased shareholder value."
Results of AGM
@UK is pleased to announce that at the Annual General Meeting of the Company held earlier today, all the resolutions were passed.
Enquiries:
@UK PLC
Ronald Duncan
Chairman
Tel: 0118 963 7000
Beaumont Cornish Limited
Roland Cornish
Tel 0207 628 3396
Threadneedle Communications
Caroline Evans-Jones, Alex White
Tel 020 7653 9850
Notes to Editors
@UK PLC is the UK market leader in Platform as a Service using Platform Generator and provides secure cloud based eCommerce, eProcurement and email services to business and the public sector with over 1 million users.
@UK provides a secure internet eMarketplace enabling buyers such as local authorities, schools and hospitals to buy online from commercial suppliers ranging from large corporations to small to medium enterprises. This allows buying and selling to take place with no paperwork and a reduced chance of errors through transposition, achieving major savings throughout the supply chain.
@UK has a key competitive advantage as an ecommerce based marketplace as it ensures that prices are correct from requisition through to payment, where catalogue based marketplaces are unable to support carriage, complex pricing and configurable products.
@UK is included in the Software and Computer Services Sector (9530). For further information please visit www.uk-plc.net
ENDS