Appointment of new CEO

RNS Number : 0518J

Crimson Tide PLC

28 March 2018

 

Crimson Tide plc ("Crimson Tide" or "the Company")

 

Appointment of new CEO

Crimson Tide is pleased to announce that Mr. Luke Anthony Jeffrey has been appointed as Chief Executive Officer of the Company with immediate effect. Barrie Whipp, founder of Crimson Tide plc, will continue as Executive Chairman.

Mr. Jeffrey joined the Company in July 2005 after completing a Master of Science degree from University of East Anglia and has held increasingly senior technical roles, culminating in his appointment as Deputy CEO last year.

Commenting on the appointment, Barrie Whipp said "The development of our people is one of the cornerstones of the success of Crimson Tide. I am very pleased that Luke has achieved the position of CEO after growing through the ranks of Crimson Tide since leaving University. Luke has great experience of our Company, having been instrumental in the development of mpro5 and being a member of the board since 2012. The staff hold him in very high regard. It is now Luke's job to run the day to day operations of the Company and I can focus on growth and the fantastic range of opportunities in front of us"

Luke Anthony Jeffrey (aged 35) holds no other Directorships, and has held no other Directorships in the past 5 years. He has an interest in 2,000,000 Ordinary Shares of the Company and holds options over 1,000,000 Ordinary Shares granted in May 2010 with an exercise price of 1.25 pence. The option is exercisable between the second and tenth anniversary of its grant, subject to the achievement of a share price of 2.5 pence. There are no further disclosures required in accordance with Schedule 2(g) of the AIM Rules.

For further information:

Crimson Tide plc

Barrie Whipp / Steve Goodwin

01892 542 444

WH Ireland Limited (Nomad)

James Joyce / Alex Bond

020 7220 1666

 

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