18 Mar 2019 07:00
18 March 2019
EU Supply plc
("EU Supply", the "Company" or the "Group")
Contract win
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has signed a contract with a service provider that facilitates cost effective services and solutions for collaboration and information sharing within the oil and gas sector for the delivery of some initial services for their supplier qualifications.
Commenting, Thomas Beergrehn, CEO of EU Supply, said:
"We are pleased to announce the signing of this maiden agreement in the oil and gas sector. It is a sector with significant needs in both qualification, tendering, contract management and risk management. We believe this first inroad in the oil and gas sector may lead to considerable additional business in the next three years."
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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.