Crimson Tide (TIDE)

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Share Price:
3.90p
Market Cap:
17.84m
Change Today:
0.35p
Sector:
IT Hardware

Crimson Tide rises after double rail contract win

By Duncan Ferris

Date: Thursday 07 Feb 2019

LONDON (ShareCast) - (Sharecast News) - Crimson Tide jumped on Thursday after signing new contracts of a value amounting to almost 0.25m with Northern Rail and Arriva UK Trains subsidiary Chiltern Railways.
The contracts will see Crimson Tide supply the rail businesses with mpro5, an app that allows companies to manage their remote workforces, and were won via the company's partner Graphite Partners, with assistance from OEM partner Samsung Electronics.

Barrie Whipp, executive chairman, said: "Following the development of our relationship with our partners we have entered another vertical market where mpro5 can deliver value and measurable ROI. With an expanding channel strategy we are able to get mpro5 in front of the right people, in the right context at the right time."

The AIM traded company said Chiltern Railways will use mpro5 for mobile auditing of its train presentation, while Northern Rail, which committed to a five-year agreement, will use the app for staff management and station presentation.

Denis O'Sullivan, train presentation manager for Chiltern Railways, said: "This enables us to focus on the required areas for improvement without having to trawl through large amounts of data. The prospects for the mpro5, Samsung and Chiltern Rail partnership in terms of potential seem endless."

Crimson Tide's shares were up 9.62% at 2.85p at 0945 GMT.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Crimson Tide Market Data

Currency UK Pounds
Price 3.90p
Change Today 0.35p
52 Week High 4.00p
52 Week Low 1.58p
Volume 775,241
Shares Issued 457.49m
Market Cap 17.84m

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