17 Aug 2015 07:00
17 August 2015
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
been awarded a long term contract with Oslo Kommune (Capital City Council of Norway), in competition with several of its main competitors in Norway. The contract allows the city council central procurement and any of its subsidiaries the right to use the Company's CTMTM platform.
The contract is a 6 years fixed contract, with up to 2 years optional extensions, and is expected to lead to more than 50 organisational units and up to 800 users using the CTMTM platform by the time the new EU Directives are expected to become effective in Norway. Fees depend on the number of users of each module of the service. This is the third European capital city contract awarded to the Company in the last three months.
This agreement underpins the Company`s development in multiple markets and confirms management's confidence in growth for 2015 and beyond.
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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 7,000 European public sector bodies in 10 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 when the Company raised £5.0 million before expenses. In July 2014, the Company raised a further £1.35 million by way of a placing of new ordinary shares, the proceeds of which were mainly used to strengthen the Company's balance sheet, provide working capital to support the growth of the business as it expands and aims to gain market share and to provide additional funds for sales and marketing.