Crimson Tide PLC Result of AGM and Statement (3431D)
June 20 2023 - 11:20AM
UK Regulatory
TIDMTIDE
RNS Number : 3431D
Crimson Tide PLC
20 June 2023
Crimson Tide plc
("Crimson Tide" or "The Company")
Result of AGM and update
Crimson Tide plc (TIDE), the provider of the mpro5 Smart App
Solution, is pleased to announce that at its Annual General Meeting
held this morning, all the resolutions, as set out in the Notice of
the Annual General Meeting, were duly passed.
Barrie Whipp, Chair, stated, "Our growth trajectory continues
with some good ARR additions in the first half. We have had a
slightly higher amount of churn than normal, due in particular to
one client no longer requiring rugged devices; however, we have
continued to add ARR; of particular note is our NHS contract win
with IoT sensors."
"We are very busy in the US, with a partner-led strategy and
have added six partners within the last year. We are optimistic for
further growth in this market. Our beepro mobile app has now merged
into mpro5, with a significant new Angular/Ionic upgrade having
taken place in May. Our technical focus is now on upgrading our
reactive elements, which are differentiators in our field in
notifications, emails and follow-up actions."
"We continue to drive towards a positive return at the EBITDA
level, which is expected to be achieved within this financial year,
demonstrating the gearing in our operational strategy. Finally,
cash remains strong at cGBP3m at the gross and net level,
demonstrating a levelling of our investment outgoings. Cash is not
expected to dip significantly from this marker".
"With our new board members, we hope to focus more on
international and channel growth and look forward to reporting
further in these areas".
For further information, please contact:
Crimson Tide plc +44 1892 542444
Barrie Whipp / Jacqueline Daniell
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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END
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