Change of Accounting Reference Date

Crimson Tide plc (TIDE), the provider of the mpro5 process management app, announces that following a strategic review, it is now changing its year end date from 31 December to 30th April.

The Company will announce unaudited second interims for the 6 months to 31 December 2024 ("Second Interims") before the end of May 2025 and will produce audited results for the 16-month period to 30 April 2025 ("Audited Results") in September 2025.

The Second Interims will include non-recurring costs of approximately £0.5m in total, incurred in connection with headcount reductions made during the second half of 2024 and legal costs in connection with the approach by Ideagen Limited.

The Audited Results will include additional exceptional costs of approximately £0.5m in respect of the failed merger with Checkit Plc, where the Scheme of Arrangement failed to be passed by Shareholders. The Audited Results will also include a write down of approximately £1.0m in relation to the carrying value of the Company's intangible software asset and a change of the related amortization period to six years (currently seven years).

The Company also announces that it is making progress towards the appointment of a new Non-executive Chair and will make further announcements in due course.

Julian Blunt / Dan Hodkinson - Corporate Finance

Andrew Burdis - Corporate Broking