12th May 2011 07:00
Under embargo until 7am | 12 May 2011 |
@UK PLC
("@UK" or the "Company")
@UK to Launch Sponsorship Programme for University Students
@UK PLC (AIM:ATUK.L), the ecommerce provider, announces the launch of a sponsorship programme to help students from disadvantaged backgrounds meet the financial demands of University attendance. The social inclusion initiative will be launched on Monday 16 May and will detail how the Berkshire based ecommerce provider will sponsor places for students from a funding pool of up to £1 million per annum.
@UK PLC has a long history of working alongside British Universities in technical development and recently in providing eCommerce marketplaces to the University sector. British Universities have jointly developed key products with @UK PLC such as its SpendInsight software that was used by the National Audit office to identify over £500 million in savings for the NHS. The Company also recently announced it had been awarded a five year contract to supply an ecommerce marketplace for Universities in the UK.
There is significant scope to extend the ecommerce marketplace from the national level down to all the participating institutions, and the directors estimate that the potential market size is in excess of £10 million per annum. The speed and scale of take up will determine the funding available for the funding pool, and the rate at which the sector achieves the potential savings which are expected to be of a similar order to those in the NHS.
Ronald Duncan, Chairman, @UK PLC commented:"We want to help reverse the current trends in social mobility by promoting the attendance at University of disadvantaged students. We were delighted last month to have won the contract for the provision of an ecommerce marketplace for Universities. This contract is currently worth £1m over the next five years to @UK PLC and has the potential to develop into a far higher revenue stream from which we intend to set aside a proportion of profits for this social inclusion programme.
"We concur with the Higher Education Minister David Willetts who has recently stated that students who are able must have access to a University education. This is precisely what @UK PLC's programme is intended to achieve."
Targeted at providing those who have great potential but do not have the financial support to take that first step to University, the programme will not only provide financial support but also mentoring from well known university graduates who have managed to break out of their own disadvantaged backgrounds.
Enquiries:
@UK PLC Ronald Duncan, Chairman | Tel: 0118 963 7000 |
Arbuthnot Securities Limited Tom Griffiths | Tel: 020 7012 2000 |
Threadneedle Communications Caroline Evans-Jones/Alex White | Tel 020 7653 9850
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Notes to Editors
@UK PLC provides secure cloud based ecommerce, eprocurement, startup and email services to over 1 million users, that enable efficient trading in a sustainable manner.
@UK's secure ecommerce Marketplace enables buyers such as local authorities, schools and hospitals to buy online from commercial suppliers ranging from large corporations to small to medium enterprises. This allows buying and selling to take place at the correct price with no paperwork and the elimination of transposition errors, achieving major savings throughout the supply chain.
@UK has 5 key competitive advantages
·; SpendInsight uses unique artificial intelligence to automatically identify savings and is available on a national framework contract
·; Ecommerce Marketplace realises the savings through correct pricing vs catalogue marketplaces which are unable to support carriage, or complex pricing
·; GreenInsight provides unique sustainability analysis and Hybrid Carbon Footprints enabling universal carbon footprints at a price break through of £4 per item
·; High performance cloud technology underpinning the system
@UK is included in the Software and Computer Services Sector (9530).
For further information please visit the @UK PLC websites
Investor Site http://www.uk-plc.net/invest
Main Site http://www.uk-plc.net
SpendInsight Site http://www.spendinsight.com
GreenInsight Site http://www.green-insight.com
Hybrid Carbon Footprint Site http://www.hybridcarbonfootprint.com
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