Crimson Tide PLC
05 June 2007
FOR RELEASE 5 JUNE 2007
Crimson Tide Plc (the 'Company')
(A leading service provider of mobile data solutions for business)
Placing of new ordinary shares and Directors' Dealings
Crimson Tide Plc is pleased to announce that it has raised £220,000 before
expenses by way of a placing of 11,000,000 new Ordinary Shares of 1p each at 2p
each today (the 'Placing'). These funds will be used to continue the development
of the business, for general working capital purposes and for possible future
acquisitions.
Application has been made for the new Ordinary Shares to be admitted to trading
on AIM and dealings are expected to commence on 11 June 2007. The shares will
rank pari passu with existing shares in issue.
The following non-executive directors of the Company, or parties connected to
them, have participated in the Placing as set out below:
Director Number of Consideration Number of % of issued Number of
Placing shares ordinary shares share capital warrants held
held following held following (granted on 27
the Placing the Placing July 2006)
(£)
Graham 1,000,000 20,000 17,000,000 5.84 1,309,718
Ashley
Rowley 1,360,000 27,200 6,360,000 2.19 1,043,750
Ager
Following the admission of such new Ordinary Shares, the Concert Party (as
defined in the admission document dated 27 July 2006) will hold 211,934,031
Ordinary Shares representing 72.85 per cent. of the 290,904,495 Ordinary Shares
then in issue.
The Concert Party holding of 211,934,031 Ordinary Shares includes the ordinary
shares as set out above for Graham Ashley and Rowley Ager (who are both members
of the Concert Party).
Enquiries:
Crimson Tide Plc 01892 542 444
Barrie Whipp, Executive Chairman
W.H. Ireland Limited 0121 616 2101
Tim Cofman
This information is provided by RNS
The company news service from the London Stock Exchange