13 September 2016
EU Supply plc
("EU Supply", the "Company" or the "Group")
Renewal of agreements
EU Supply (LSE AIM: EUSP), the e-procurement software provider, is pleased to announce that the Company has renewed its distribution agreement with CTM Solutions BV in the Netherlands for a minimum of 3 years. This agreement originates from 2007 and is on a revenue share basis. As part of the renewal, the Group will also deliver certain services for approximately €75,000.
The Group has also received notice from the Minister for Public Expenditure and Reform in Ireland executing their option to extend the existing agreement between the parties until May 2020.
In addition, the Group has received an intention to award for a 3-year agreement (plus the option to extend for 1 year) with existing customer Fællesudbud Sjælland (a consortium comprising over 15 Danish municipalities). The intention to award also includes the option for additional municipalities to use the Group's CTM™ platform. This renewal confirms the Group's strong market position in Denmark.
Martin Kilbane, eProcurement Lead, Office of Government Procurement, commented
"We are pleased with the service received from EU Supply in respect of their platform CTMTM. It has added significant value to public procurement for public sector bodies in Ireland. We now look forward to working with EU Supply for another 3 years to meet Ireland's needs in relation to electronic procurement and to be compliant with the European Union's procurement directives and National legislation."
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™ ("CTM™") 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™ platform is one of the easiest to use and most functionally advanced solutions available in the market. The CTM™ 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 £2.061m (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