Contract Renewal with Major British Supermarket
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO. 596/2014 (AS INCORPORATED INTO UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
Crimson Tide plc
("Crimson Tide", "the Company" or "Group")
Contract Renewal with Major British Supermarket
Crimson Tide plc (AIM: TIDE), the provider of the process management platform mpro5, is pleased to announce that a major British supermarket has renewed its contract with the Company for a further three years. There is a break clause in the event of unsatisfactory service performance after one year.
The renewal delivers Annual Recurring Revenue of approximately £660,000 in the first year and includes the potential for uplift beyond year one, based on performance and evolving requirements. The total contract value is nearly £2m and will exceed that if certain performance measures are met.
mpro5 will continue to support the retailer's transition from paper-based processes, driving improvements in compliance, food safety, and operational execution across hundreds of locations. The renewal reinforces Crimson Tide's hands-on service model and its ability to scale effectively within complex, multi-site environments.
Barrie Whipp, Founder and Interim Executive Chairman of Crimson Tide, commented:
"We are proud to continue our relationship with one of Britain's most recognised retail brands. Their ongoing trust in mpro5 reflects the platform's strength in delivering measurable operational improvements at scale.
The Board views this renewal as a key validation of mpro5's impact within the retail sector and remains confident in the opportunity to drive further expansion within this client and across the industry."
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Crimson Tide plc |
+44 1892 542444 |
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Barrie Whipp, Interim Executive Chairman Peter Hurter, Chief Financial Officer
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Cavendish Capital Markets Limited (Nominated adviser and Broker) |
+44 20 7220 0500 |
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Julian Blunt / Callum Davidson - Corporate Finance |
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Andrew Burdis - Corporate Broking |
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Crimson Tide provides mpro5, the process management app. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk
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