Crimson Tide Regulatory News (TIDE)

5 Jun 2007 15:59

Crimson Tide PLC05 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 beforeexpenses by way of a placing of 11,000,000 new Ordinary Shares of 1p each at 2peach today (the "Placing"). These funds will be used to continue the developmentof the business, for general working capital purposes and for possible futureacquisitions. Application has been made for the new Ordinary Shares to be admitted to tradingon AIM and dealings are expected to commence on 11 June 2007. The shares willrank pari passu with existing shares in issue. The following non-executive directors of the Company, or parties connected tothem, 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 1,309,718Ashley Rowley 1,360,000 27,200 6,360,000 2.19 1,043,750Ager Following the admission of such new Ordinary Shares, the Concert Party (asdefined in the admission document dated 27 July 2006) will hold 211,934,031Ordinary Shares representing 72.85 per cent. of the 290,904,495 Ordinary Sharesthen in issue. The Concert Party holding of 211,934,031 Ordinary Shares includes the ordinaryshares as set out above for Graham Ashley and Rowley Ager (who are both membersof the Concert Party). Enquiries: Crimson Tide Plc 01892 542 444Barrie Whipp, Executive Chairman W.H. Ireland Limited 0121 616 2101Tim Cofman This information is provided by RNS The company news service from the London Stock Exchange