EU Supply PLC Grant Award

TIDMEUSP

EU Supply PLC

03 July 2018

RNS Reach

3 July 2018

EU Supply plc

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

Grant Award

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has been awarded a new grant from the European Union for the development of certain additional features to its CTM(TM) platform in order to meet anticipated new inter-system requirements in the EU/EEC countries (the "Grant").

The Grant is expected to be worth up to EUR240,000 and to be received in late 2018 or early 2019.

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. On 25 May 2018, the Company announced that it had raised a further GBP600k (before expenses) through a placing and subscription of new shares.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

NRALLFIVDLIVIIT

(END) Dow Jones Newswires

July 03, 2018 09:03 ET (13:03 GMT)