Intention not to make an offer for Crimson Tide

Further to the announcement made by the Company on 4 June 2024 in connection with a possible all-share offer for Crimson Tide plc and the subsequent announcements made by Crimson Tide on 5 June 2024 and 21 June 2024, the Checkit Board confirms that it does not intend to make an offer to acquire Crimson Tide. Accordingly, except with the consent of the Takeover Panel, Checkit, and any person acting in concert with Checkit, is bound by the restrictions under Rule 2.8 of the Code.

Under Note 2 on Rule 2.8 of the Code, Checkit, and any person acting in concert with Checkit, reserves the right to set aside the restrictions in Rule 2.8 of the Code and announce an offer or possible offer for Crimson Tide, or make or participate in an offer or possible offer for Crimson Tide, and/or take any other action otherwise precluded under Rule 2.8 of the Code within six months of the date of this announcement in the following circumstances:

• with the agreement or recommendation of the Crimson Tide Board;
• following the announcement of a firm intention to make an offer for Crimson Tide, by or on behalf of a third party;
• following the announcement by Crimson Tide of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and/or
• if there has been a material change of circumstances (as determined by the Takeover Panel).

The individual responsible for releasing this announcement is Kit Kyte, Chief Executive Officer of Checkit.

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement of the Possible Offer made at 07.00 a.m. on 4 June 2024.