Business
Concert Party Update
Crimson Tide plc has announced a revised concert party composition, now comprising members who collectively hold approximately 19.96% of the company's issued share capital, a significant decrease from the initial 76% at its AIM admission. This adjustment follows material developments including a share consolidation, the death of members, and disassociations. The current concert party includes Barrie and Helen Whipp holding 9.55%, Stephen Keith Goodwin with 3.94%, Graham Basil Ashley at 2.75%, Fred Whipp holding 1.52%, the Goodwin Accumulation & Maintenance Trust with 1.39%, Rowley Stuart Ager at 0.76%, and James Millard with 0.04%. This revised holding is below the 30% threshold that typically triggers a mandatory takeover offer under the City Code on Takeovers and Mergers. Disclaimer*
About this update from Crimson Tide Plc
9 March 2026 Crimson Tide plc ("Crimson Tide", the "Company" or the "Group") Confirmation of changes to the concert party Crimson Tide, the provider of the mpro5 process management app, announces recent changes to the composition of the concert party in respect of the Company. Under the City Code on Takeovers and Mergers (the "Code") published by the Panel on Takeovers and Mergers (the "Panel"), a concert party arises where persons who, pursuant to an agreement or understanding (whether formal or informal), co-operate to obtain or consolidate control (as defined in the Code) of a company or to frustrate the successful outcome of an offer for a company. Certain persons will be presumed, as set out in the Definitions in the Code, to be persons acting in concert with other persons in the same category unless the contrary is established, including shareholders in a private company who sell their shares or interests in consideration for the issue of new shares in a company to which the Code applies, or who, in connection with an initial public offering or otherwise, become shareholders in a company to which the Code applies. At the time of its admission to AIM on 22 August 2006, the Company stated in its AIM Admission Document that it had agreed with the Panel that a concert party existed in the context of the Company (the "IPO Concert Party") which held approximately 76% of the Company's issued share capital. Material developments since that time have prompted a review of the IPO concert party, including a share consolidation; the deaths of several IPO Concert Party members; and the disassociation of certain IPO Concert Party members. Accordingly, the Company has now agreed with the Panel that the IPO Concert Party is now comprised of the following members, who together hold approximately 19.96% of the Company's issued share capital: Shareholder No. shares % Barrie and Helen Whipp 628,102 9.55% Stephen Keith Goodwin 258,715 3.94% Graham Basil Ashley 181,097 2.75% Fred Whipp 100,000 1.52% Goodwin Accumulation & Maintenance Trust 91,500 1.39% Rowley Stuart Ager 50,000 0.76% James Millard 2,750 0.04% Total 1,312,164 19.96% Under Rule 9 of the Code, any person who acquires an interest in shares which, taken together with shares in which that person or any person acting in concert with that person ...