Crimson Tide PLC Contract Win (3860V)

TIDMTIDE

RNS Number : 3860V

Crimson Tide PLC

05 April 2023

This announcement contains Inside Information

5 Apr 2023

Crimson Tide plc

("Crimson Tide" or "the Company")

Contract win with NHS Trust

Crimson Tide plc (TIDE), the provider of the mpro5 Smart App Solution, is pleased to announce a contract win with an NHS trust in the South East of England with a scalable upside opportunity.

The initial contract value is cGBP250k over its initial 36-month term; however, the project is anticipated to increase in size and contracted revenue later in the year.

mpro5 will help the Trust understand the current condition and level of statutory compliance of each space in its facilities, supplemented by data captured on our mobile app from a wide range of incidents with associated rectification and response times. Our smart app solution will enable different departmental datasets to be consolidated and enable aggregated compliance processes to be completed on smartphones and tablets.

mpro5's KPI dashboards will display calculations of actions to costs and highlight efficiencies and remedial actions for the first time in a consolidated manner. Data integrity is critical, and the mpro5 infrastructure in Microsoft Azure will ensure accurate current and historical data with industry-leading security and uptime.

The Company anticipates adding its Internet of Things ("IoT") module later this year, projecting the installation of over 1,000 sensors to enable sensor-driven actions, one of mpro5's key differentiators.

Barrie Whipp, Chairman, commented: "To be able to deploy mpro5's full functionality across an entire NHS Trust is a validation of our mobile web and reporting functionality and displays our ability to help flexibly improve compliance and efficiency. Micro reporting on space compliance and costs will lead to a greater understanding of how NHS Trusts can improve their operational effectiveness. The anticipated addition of our IoT module later in the year will enable sensor-driven actions to improve efficiency further, as well as reduce costs and should appeal to other trusts - we see this first installation as a flagship site."

For further information, please contact:

 
Crimson Tide plc                                   +441892542444 
Barrie Whipp / Jacqueline Daniell 
 / Peter Hurter 
finnCap (Nominated adviser and Broker) 
Corporate Finance: Julian Blunt / 
 Milesh Hindocha                                    +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

Crimson Tide provides mpro5, the Smart App Solution. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk

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