REG - Crimson Tide PLC - Change of Accounting Reference Date

Crimson TideAnnouncement

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RNS Number : 3099H  Crimson Tide PLC  06 May 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION NO. 596/2014 (AS INCORPORATED INTO UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS 2019). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN

 

 

Crimson Tide plc

("Crimson Tide", "the Company" or "Group")

 

Change of accounting reference date

 

Crimson Tide plc (TIDE), the provider of the mpro5 process management app,
announces that following a strategic review, it is now changing its year end
date from 31 December to 30th April.

 

The Company will announce unaudited second interims for the 6 months to 31
December 2024 ("Second Interims") before the end of May 2025 and will produce
audited results for the 16-month period to 30 April 2025 ("Audited Results")
in September 2025.

 

The Second Interims will include non-recurring costs of approximately £0.5m
in total, incurred in connection with headcount reductions made during the
second half of 2024 and legal costs in connection with the approach by Ideagen
Limited.

 

The Audited Results will include additional exceptional costs of approximately
£0.5m in respect of the failed merger with Checkit Plc, where the Scheme of
Arrangement failed to be passed by Shareholders. The Audited Results will also
include a write down of approximately £1.0m in relation to the carrying value
of the Company's intangible software asset and a change of the related
amortization period to six years (currently seven years).

 

The Company also announces that it is making progress towards the appointment
of a new Non-executive Chair and will make further announcements in due
course.

 

 

 Crimson Tide plc                                                  +44 1892 542444
 Barrie Whipp, Executive Chairman

 Peter Hurter, Chief Financial Officer

 Cavendish Capital Markets Limited (Nominated adviser and Broker)  +44 20 7220 0500
 Julian Blunt / Dan Hodkinson - Corporate Finance
 Andrew Burdis - Corporate Broking

 

Crimson Tide provides mpro5, the process management app. For further
information, see mpro5.com (http://www.mpro5.com) and on Crimson Tide plc,
crimsontide.co.uk (http://www.crimsontide.co.uk/)

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