Board Changes

Crimson Tide PLC

17 April 2024

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time. Upon the publication of this announcement, this inside information is now considered to be in the public domain

Crimson Tide plc

("Crimson Tide" or "the Company")

Board Changes

Crimson Tide plc (TIDE), the provider of the mpro5 process management app, is pleased to announce the following Board changes which take effect today.

Philip ('Phil') Douglas James Meyers will join the Board as Chief Executive Officer ("CEO"), having joined Crimson Tide's Operating Board in August 2023 as Chief Operating Officer, a role in which he has made an immediate impact. Phil is an accomplished leader in global technology companies, most recently with HiSky Limited (2019 - 2022), a leading developer and provider of satellite Internet of Things (IoT) networks where he held the role of UK CEO. He has previously held the roles of Vice President of Capabilities and Innovation at Inmarsat Global Limited (2014 - 2019), the world leader in global mobile satellite communications, and Channel Sales Manager for BlackBerry Limited (2011 - 2014). Phil has significant experience in launching and improving partner-led growth strategies in the UK and USA. He holds a Master of Business Administration from ENEB Business School.

James Richard Joyce will join the Board as an Independent Non-Executive Director. James is a chartered accountant and experienced corporate finance director with significant experience of the AIM market.  Since 2005, he has been a corporate finance director at WH Ireland, the broking and corporate advisory firm. James was previously a corporate finance director at Sigma Capital (2000 - 2005). James qualified as an ACA and has formerly held positions at the London Stock Exchange and Arthur Andersen, the global accounting and advisory firm. James will chair the Audit Committee following the completion of this year's audit.

Jacqueline Daniell, the Company's current CEO, will remain on the Board and take the newly created role of Non-Executive Deputy Chair, and will focus on assisting the Company's efforts in marketing, growth and Investor Relations.

Barrie Whipp, Chairman of Crimson Tide, commented: "Phil has demonstrated the ability to lead the Company into its next period of growth and innovation. More importantly he has gained the trust of the Board and staff and I endorse him wholeheartedly. Jacqui will now be able to use her extensive experience in marketing, growth and Investor Relations to help us with our expansion strategy. I will focus on product innovation and international opportunities. James Joyce has a wealth of Capital Markets knowledge with a real understanding of the requirements of AIM-listed growth companies. I am sure that the Board will be enhanced by these appointments."

Regulatory Disclosures:

The following disclosures are made pursuant to AIM Rule 17 and Schedule 2(g) of the AIM Rules for Companies:

In addition to his appointment as an Independent Non-Executive Director of Crimson Tide, James Richard Joyce aged 54, does not hold any current directorships and has not held any directorships in the five years preceding his appointment at Crimson Tide plc. James Joyce holds no ordinary shares in the Company.

In addition to his appointment as Chief Executive Officer of Crimson Tide, Philip Douglas James Meyers aged 44, does not hold any current directorships and has not held any directorships in the five years preceding his appointment at Crimson Tide plc. Philip Meyers holds no ordinary shares in the Company.

Save as set out above, there is no further information to be disclosed under Schedule Two paragraph (g) of the AIM Rules.

  For further information, please contact:

 

Crimson Tide plc	[phone]
Barrie Whipp / Jacqueline Daniell
Cavendish Capital Markets Limited (Nominated adviser and Broker)	[phone]
Julian Blunt / Dan Hodkinson - Corporate Finance
Andrew Burdis - Corporate Broking
Alma PR - (Financial PR)	[phone]
Josh Royston

Crimson Tide provides mpro5, the process management app. For further information, see mpro5.com and on Crimson Tide plc, crimsontide.co.uk

 

END