REG - Imaging Biometrics - Further Re: Purchase of interest in Kirkstall Ltd

Imaging BiometricsAnnouncement

16/10/2025 07:00

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RNS Number : 5711D  Imaging Biometrics Limited  16 October 2025

Imaging Biometrics Limited

("IBAI" or the "Company")

Further Re: Purchase of interest in Kirkstall Limited

Imaging Biometrics Limited Limited (LSE: IBAI), provides an update following
its announcement on 14 October 2025 regarding the purchase of the Company's
interest in Kirkstall Limited ("Kirkstall") from Truetide PLC ("Truetide").
Truetide currently holds a 29.35% interest in IBAI.

 

On 15 October 2025, IBAI entered into a variation to the sales and purchase
agreement with Truetide in relation to the purchase of the shares in
Kirkstall, pursuant to which Truetide has agreed to write off all loan
balances previously owed by Kirkstall to Truetide, totalling £220,853.67, of
which £28,500 was owed to The Ridings Early Growth Investment Company
Limited, a subsidiary of Truetide.

 

The loans had been written down to zero by Truetide in its most recent
accounts for the year ended 31 March 2025 as a prudent assessment of their
current value, since the business was loss making and unlikely to make any
repayments in the reasonably foreseeable future. As a result of these
write-offs, Kirkstall has net assets of £71,000 and has generated revenue of
£47,000 for the period from 1 April 2025 to date.

 

Kirkstall intends to file its accounts for the year ended 31 March 2025 with
Companies House shortly and will subsequently change its financial year end to
31 December in order to align with the Group's year-end.

 

The Directors of the Company accept responsibility for the contents of this
announcement.

 

- ENDS -

For further information:

Imaging Biometrics Limited

Tel: 01738 587555

Trevor Brown / Dr Al Musella / Brett Skelly / Michael Schmainda

 

Peterhouse Capital Limited

Tel: 020 7469 0936

 

 

 

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