CLS Holdings PLC

Business and Financial Review • Feb 24, 2021

National Storage Mechanism | Additional information

RNS Number : 1008Q

PROACTIS Holdings PLC

24 February 2021

Proactis Holdings PLC

bePayd Strategic Contract Win

Proactis Holdings PLC, ("Proactis", the "Group" or the "Company"), the business spend management solution provider, is pleased to announce that it has signed a contract with Denbighshire County Council ("DCC") to provide its early payment service, bePayd, into DCC's supply chain.

bePayd will enable DCC's suppliers to receive an automated notification of approved invoices with the option of accelerating payment before the pre-agreed contractual terms.  Proactis will fund the accelerated payment in exchange for a small discount paid by the supplier.

It is anticipated that bePayd will be offered, within the first year, to approximately 3,000 suppliers that generate over 50,000 invoices per annum with a spend value exceeding £100m.

Councillor Julian Thompson-Hill, Denbighshire County Council's Lead Member for Finance, Performance and Strategic Assets, commented:

"The Council recognises the importance of its valuable supply chain, especially in these difficult times.  Proactis has recognised the needs of our suppliers and we are keen to be able to offer bePayd to them."

Tim Sykes, Chief Executive Officer at Proactis, commented:

"DCC is a long-standing and valued customer of Proactis and we are delighted that it has agreed to offer bePayd to its suppliers.  bePayd is a natural extension to the portfolio of Proactis' existing solutions adopted by DCC and we expect that it can drive liquidity into the supply chain.  We will now work closely with DCC to design and implement bePayd's roll-out and look forward to updating the market in line with progress."

For further information, please contact:

Proactis Holdings PLC
Tim Sykes, Chief Executive Officer Richard Hughes, Chief Financial Officer	01937 545070 investorcontact@proactis.com
finnCap Ltd Carl Holmes/Emily Watts/Matthew Radley - Corporate Finance Andrew Burdis/Richard Chambers - ECM	0207 220 0500
Alma PR Sam Modlin/David Ison/Molly Gretton	020 3405 0205 Proactis@almapr.co.uk

Notes to Editors:

Proactis creates, sells and maintains software and services which enable organisations to streamline, control and monitor all indirect expenditure. Its solutions are used in approximately 1,100 buying organisations around the world from the commercial, public and not-for-profit sectors.

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