EU Supply PLC Contract Wins and Completion of Work

TIDMEUSP

EU Supply PLC

26 October 2017

26 October 2017

EU Supply plc

("EU Supply" or the "Company" or the "Group")

Contract Wins and Completion of Work

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has signed a number of small contracts and has completed a development project.

A number of small contracts have been signed by the Group and its partners with a Danish utility company, Port of Rotterdam Authority and 3 municipalities in Denmark (Tønder, Aabenraa and Haderslev). In addition, the Group has started work on a project for the Norwegian Ministry of Foreign Affairs. All of the above projects are for the delivery of CTM(TM) as SaaS and related services. Most of the revenues under these contracts will be accrued in 2018.

Finally, following submission of the EUREKA development project's final report to Vinnova, receipt by the Company of the final payment is expected to be received in 2017 as anticipated.

FURTHER ENQUIRIES

 
    EU Supply plc               Tel: [phone] 
     Thomas Beergrehn, CEO 
     Fredrik Wallmark, CFO 
 
     Stockdale Securities        Tel: [phone] 
     Tom Griffiths, Ed Thomas 
 

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(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 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 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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October 26, 2017 02:00 ET (06:00 GMT)