Crimson Tide PLC Contract Win and Renewals (3230Y)
04 May 2023 - 4:00PM
UK Regulatory
TIDMTIDE
RNS Number : 3230Y
Crimson Tide PLC
04 May 2023
This announcement contains Inside Information
4 May 2023
Crimson Tide plc
("Crimson Tide" or "the Company")
Further contract win and renewals
Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company"), the
provider of the mpro5 solution, is pleased to announce a further
contract win with the NHS.
The Company recently announced the initial win with this Trust,
whereby the implementation of mpro5 will drive efficiencies and
savings across the Trust's estates. We have now received the
contract to add Internet of Things ("IoT") sensors, which will
enable one of mpro5's key differentiators, sensor driven actions,
to facilitate more effective use of staff and facilities within the
Trust. This additional thirty six month contract of cGBP300k takes
the full contract value to over GBP0.5m over a three year term.
In addition, the Company is pleased to report the renewal of a
number of long term contracts, once again demonstrating that
mpro5's commitment to excellence of service is rewarded with long
lasting and strategic relationships with our clients.
In the last 3 months, 4 of our long term clients have decided to
not only continue with mpro5 but to add further users or use cases
where mpro5 helps to deliver their business critical processes. All
four clients will have been mpro5 subscribers for over a decade at
the end of their new contracts with a combined total of in excess
of GBP650k of secured contracted revenue.
Chairman Barrie Whipp commented, "We are very pleased to add
mpro5's sensor driven actions to our initial contract with this NHS
Trust, which we believe will drive direct savings and improvements
across its estate. Our goal is to work with the Trust to establish
a repeatable series of processes and procedures that drive
compliance and efficient use of staff and facilities. As can be
seen from our recent renewals, which demonstrate a wide range of
use cases, our goal is to ensure our clients trust us for the long
term and use mpro5 to provide an increasing range of
solutions."
Enquiries:
Crimson Tide plc +44 1892 542444
Barrie Whipp / Jacqueline Daniell
finnCap Ltd (Nominated Adviser and Broker) +44 20 7220 0500
Julian Blunt / Milesh Hindocha, Corporate Finance
Andrew Burdis, Corporate Broking
Alma PR (Financial PR) +44 7780 901979
Josh Royston
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END
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