EU Supply PLC Contract win

TIDMEUSP

EU Supply PLC

05 July 2017

5 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 entered into a contract with the Norwegian Government Agency for Financial Management (the "Customer") for the use of its CTM(TM) platform. In addition, the contract allows over 200 other Norwegian state controlled entities/operations to use the platform via the Customer.

The contract is expected to generate total revenues of, in aggregate, more than GBP50k over 3 years, including licenses and support and implementation.

Furthermore, as announced in the Company's AGM statement on 30 May 2017, the Group continues to see increasing activity in certain European e-Procurement markets where there is currently a low adoption rate, such as Norway.

FURTHER ENQUIRIES

 
    EU Supply PLC                  Tel: 020 7127 4545 
     Thomas Beergrehn, CEO 
     Mattias Ström, CFO 
 
     Stockdale Securities           Tel: 020 7601 6100 
     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

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July 05, 2017 02:00 ET (06:00 GMT)

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