EU Supply PLC Contract Win (9412L)

TIDMEUSP

RNS Number : 9412L

EU Supply PLC

25 July 2017

25 July 2017

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 received its second contract pursuant to the new framework agreement entered into with an existing customer (the "Customer") for additional services to its CTM(TM) platform which was announced by the Company on 16 June 2017 (the "Agreement").

The contract entered into with the Customer under the Agreement covers the renewal of maintenance and support services as well as other services for an expected minimum period of 3 years and is anticipated to generate revenues of approximately EUR700k during the next 3 years. Furthermore, the contract includes both an expanded scope of maintenance and support services and increased monthly fees payable to the Company of approximately 25 per cent. per year compared to the previous maintenance and support services contract with the Customer, which has now expired.

As previously announced on 16 and 27 June 2017, discussions are still ongoing with the Customer on specific call-off orders for additional services to be delivered in 2017 and 2018.

FURTHER ENQUIRIES

 
    EU Supply PLC                  Tel: [phone] 
     Thomas Beergrehn, CEO 
     Mattias Ström, CFO 
 
     Stockdale Securities           Tel: [phone] 
     Tom Griffiths, David Coaten 
 

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 esourcing, 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(TM) ("CTM(TM)") 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(TM) platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM(TM) platform is used by over 7,000 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 GBP2.061m (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.

This information is provided by RNS

The company news service from the London Stock Exchange

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July 25, 2017 02:00 ET (06:00 GMT)