EU Supply PLC Contract win (2104J)

TIDMEUSP

RNS Number : 2104J

EU Supply PLC

27 June 2017

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

The contract entered into with the Customer under the Agreement comprises certain customer-paid enhancements, which are expected to generate revenues of approximately EUR400k during the remainder of this year.

As set out in the Company's announcement of 16 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

END

CNTQQLFLDQFLBBD

(END) Dow Jones Newswires

June 27, 2017 02:00 ET (06:00 GMT)