28 Jul 2014 17:35
EU Supply plc
("EUS" or "the Group")
Holding in Company
EU Supply plc (AIM:EUSP), the e-procurement SaaS provider, announces that Amati VCT plc notified the Group today that it no longer has a notifiable interest in the ordinary shares of EUS due to dilution from the placing, announced 16 July 2014.
For further information please contact:
EU Supply PLC | via Newgate Threadneedle |
Thomas Beergrehn, CEO | |
Mark Elliott, CFO | |
Westhouse Securities | Tel: 020 7601 6100 |
Tom Griffiths, David Coaten | |
Newgate Threadneedle | Tel: 020 7653 9850 |
Caroline Evans-Jones, Josh Royston, Hilary Millar |
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 on 13 November 2013 ("Admission"). At the same time, the Company raised £5.0 million before expenses mainly to fund expansion of its sales team, provide working capital for the Group and to repay borrowings, leaving the Group debt free on Admission.