THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO. 596/2014 (AS INCORPORATED INTO UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
3 July 2026
Crimson Tide plc
("Crimson Tide", the "Company" or the "Group")
Contract Extension with Cadent
Crimson Tide plc (AIM: TIDE), the provider of the mpro5 operational compliance platform, is pleased to announce that it has agreed a 12-month uplifted extension to its contract with Cadent Gas Limited ("Cadent"), the UK's largest gas distribution network.
The extension takes the contract through to 30 September 2027 and represents annual recurring revenue ("ARR") of £486k, an increase of 4 % from the previous contract.
Cadent is a longstanding customer of Crimson Tide and has integrated mpro5 into its day to day operational and compliance workflows. The extension reflects the continued value that the platform delivers across Cadent's operations and the strength of the relationship between the two organisations.
The renewal is further evidence of the Company's customer retention strategy, which continues to secure and extend agreements with a number of the Group's largest customers.
Commenting on the contract extension, Jon Clarke, Chief Executive Officer of Crimson Tide plc, said:
"We are delighted to extend our relationship with Cadent, one of our most significant customers. This renewal demonstrates the mission-critical role that mpro5 plays in supporting the operations of large, complex enterprises, and reflects the tangible return on investment our platform delivers to customers every day. Securing extensions of this scale with our largest customers is central to our retention strategy and provides a strong, recurring foundation for future growth."
Enquiries:
Crimson Tide plc +44 (0)1892 542444 | Chris Fielding, Non-Executive Chair | Jon Clarke, Chief Executive Officer | Rachael Rowe, Finance Director | Allenby Capital Limited - Nominated Adviser & Broker +44 (0)20 3328 5656 | Jeremy Porter / Ashur Joseph (Corporate Finance) info@allenbycapital.com | Tony Quirke / David Johnson (Sales & Corporate Broking) |
The person responsible for arranging the release of this announcement on behalf of the Company is Rachael Rowe, Finance Director.
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