REG - Crimson Tide PLC - Contract Win

Crimson TideAnnouncement

25/07/2022 07:00

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RNS Number : 5233T  Crimson Tide PLC  25 July 2022

This announcement contains Inside Information

25 July 2022

Crimson Tide plc

("Crimson Tide" or "the Company")

 

Significant Contract win in new sector

 

 

Crimson Tide Plc (TIDE), the provider of the mpro5 solution, is pleased to
announce a significant new long-term contract win with a national supplier in
the utilities sector. The contract has been won following a competitive tender
process and an extensive trial by the client in one of its regions.  The
client will now roll-out the mpro5 solution to digitise processes across its
network, covering the North West, Midlands, Yorkshire, the East of England,
and North London. The initial term of the agreement is for three years, with a
total value in excess of £1.4m.

 

mpro5 will be used to ensure data integrity, speed of process and to provide
real-time job availability alerts, significantly reducing the total time to
complete work whilst capturing evidence required to prove a compliant and safe
process.

 

mpro5 will now roll out nationally and our team has identified additional ways
to improve processes for the client and their subcontractors. The mpro5 API
will integrate with SAP and several other sub-contractors' workflow APIs,
streamlining data flow between organisations.

 

Barrie Whipp, Chairman, commented: "This is a significant contract win for the
Company, representing one of the largest initial contract wins in our history
and providing valuable underpinning to our plans over the next few years. It
is the result of many months of work by our team, and the contract was won
following a rigorous competitive tender process. The new contract demonstrates
mpro5's ability to provide solutions across many vertical markets and will act
as a beacon for us in the utilities sector, which we can now address in Europe
and the United States."

 

 

For further information, please contact:

 

 Crimson Tide plc                                  Via Alma PR
 Barrie Whipp / Luke Jeffrey                       01892 542 444

 finnCap (Nominated adviser and Broker)
 Corporate Finance: Julian Blunt / James Thompson   +44 20 7220 0500
 Corporate Broking: Andrew Burdis                  +44 20 7220 0500

 Alma PR - (Financial PR)
 Josh Royston / Will Ellis Hancock                 +44 7780 901 979

 

For further information on Crimson Tide plc, see  www.crimsontide.co.uk
(http://www.crimsontide.co.uk/)

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