Business
Result of Placing
Result of Placing.
About this update from Crimson Tide Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3796U\n Crimson Tide PLC\n 01 April 2021\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE, TRANSMISSION, DISTRIBUTION, OR FORWARDING DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310\n \n \n PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n \n \n \n \n \n \n \n \n \n 1 April 2021\n \n \n Crimson Tide plc\n \n \n (\"Crimson Tide\" or the \"Company\")\n \n \n Result of Placing\n \n \n Crimson Tide (AIM: TIDE), the provider of the mpro5 mobile platform, is pleased to announce that, further to the announcement made earlier today (the \"Placing Announcement\"), it has successfully completed the oversubscribed Placing which is now closed. \n \n \n The Placing has raised £6.0 million (before expenses) through the placing of 200,000,000 new Ordinary Shares at an Issue Price of 3.0 pence per share. In addition, 50,200,000 Sale Shares were sold on behalf of the Selling Shareholders at the Issue Price.\n \n \n The Directors intend to use the net proceeds of the Placing to further develop the Company's core mpro5 platform and to develop an application (\"App\") based version of mpro5 aimed at micro sized businesses. Proceeds will also be invested in the Company's marketing capability, including in particular the go to market partner channel and expanding the Company's presence in the Healthcare sector.\n \n \n Director participation in the Placing and related party transactions\n \n \n \n \n \n The following Directors have subscribed for an aggregate of 999,999 new Ordinary Shares pursuant to the Placing as set out below. Each of Mr. Jeffrey, Mr. Hurter and Mr. Hawkins' (together the \"Participating Director...