EU Supply PLC Growing Subscriptions for Supplier Services

TIDMEUSP

EU Supply PLC

25 September 2018

RNS Reach

25 September 2018

EU Supply plc

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

Growing Subscriptions for Supplier Services

EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that it has seen continued strong subscription levels for its new supplier value added services, lauched two months ago and referred to in the Company's interim results announcement dated 11 September 2018. The Company now has over 250 subscriptions registered by users in its pilot market. The Group is also developing additional value added subscription services on the supplier/bidder side in the the CTM(TM) Solution.

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.

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September 25, 2018 02:02 ET (06:02 GMT)