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.'
Enquiries:
Crimson Tide Plc Barrie Whipp, Executive Chairman | 01892 542 444 |
W.H. Ireland Limited Tim Cofman/Katy Birkin | 0121 265 6330 |