Disposal of part of trade in Ireland

8 Sep 2009 07:00



Crimson Tide Plc (the "Company")

(A leading service provider of mobility solutions for business)

Disposal of part of trade in Ireland

8 September 2009

Crimson Tide plc is pleased to announce that it has disposed of its Time & Attendance business in Ireland to Harken Time Solutions Limited, trading as "Timeworks" for a maximum cash consideration of €105,000, depending on renewals of support contracts over the coming year. The consideration will be used for working capital purposes. 

Barrie Whipp, Chairman of Crimson Tide plc, commented:

"In order to focus on our exciting opportunities in mobile data solutions, we have decided to dispose of our Time & Attendance activities in Ireland. Timeworks has been known to us for many years and the disposal represents an ideal opportunity to ensure a smooth transition for our Time & Attendance customers."

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