Further re: Sale of interest in Kirkstall Limited
Truetide PLC announced a variation to the sales and purchase agreement with Imaging Biometrics Limited (IBAI) regarding the sale of its interest in Kirkstall Limited. As part of the agreement, Truetide will write off loan balances previously owed by Kirkstall, totaling £220,853.67, of which £28,500 was owed to The Ridings Early Growth Investment Company Limited, a Truetide subsidiary. However, these loans had already been written down to zero in Truetide's accounts for the year ended March 31, 2025. Therefore, this variation is expected to have no additional financial impact on Truetide.
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Truetide plc (AIM: TRUE), the AIM-listed investment company, provides an update following its announcement on 14 October 2025 regarding the sale of the Company's interest in Kirkstall Limited ("Kirkstall") to Imaging Biometrics Limited ("IBAI"). IBAI is a Jersey-registered company in which Truetide currently holds a 29.35% interest.
On 15 October 2025, the Company entered into a variation to the sales and purchase agreement with IBAI in relation to the sale of the shares in Kirkstall, pursuant to which Truetide has agreed to write off all loan balances previously owed by Kirkstall to Truetide, totalling £220,853.67, of which £28,500 was owed to The Ridings Early Growth Investment Company Limited, a subsidiary of the Company.
The loans had been written down to zero by Truetide in its most recent accounts for the year ended 31 March 2025 as a prudent assessment of their current value, since the business was loss making and unlikely to make any repayments in the reasonably foreseeable future. As these loans had already been written down to zero in the Company's accounts for the year ended 31 March 2025, this variation has no additional financial impact on Truetide.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.