29 Jun 2018 13:54
RNS Reach
29 June 2018
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 its fifth contract pursuant to the framework agreement entered into with an existing customer (the "Customer") for additional services to its CTMTM platform announced by the Company on 16 June 2017 (the "Agreement").
This contract comprises certain customer-paid enhancements, which are expected to generate revenues of approximately €70k during the remainder of this year.
Discussions are continuing with the Customer on further specific call-off orders for additional services to be delivered in 2018.
FURTHER ENQUIRIES
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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.