Crimson Tide PLC Master Service Agreement with Compass Group (7429U)

TIDMTIDE

RNS Number : 7429U

Crimson Tide PLC

07 December 2021

7 December 2021

Crimson Tide

("Crimson Tide" or "The Company")

Master Service Agreement with Compass Group Plc

Crimson Tide Plc (TIDE) ("Crimson Tide" or "The Company"), the provider of the mpro5 solution, announces that it has entered into a Master Services Agreement ("MSA") with Compass Group, the leading Foodservice & Facilities Services company, for its non-UK based operations; this contract underpins opportunities for future sales of mpro5 to Compass Group's operations across 45 countries in over 55,000 locations.

Pursuant to the MSA the Company is pleased to announce its first contract with Compass Group's Danish operations. Following an initial pilot project this deployment reflects an expanded number of users and wider use of mpro5 to include Compass' first IoT enabled sites. The Company will be deploying a cognitive cleaning operation for Compass' marquee clients. As a result, washroom and meeting room cleaning will be completed based upon usage as well as schedules. These reactive services deliver efficiencies to Compass and a better service to their end client.

Barrie Whipp, Chairman said:

"We have proved the value of mpro5 with Compass Group in the UK over a number of years. This Master Service Agreement allows other Compass locations to easily add mpro5 to their operations to enjoy the great benefits in food safety and compliance that our solution affords. Customer engagement to date suggests that in the short to medium term deployments in EMEA and APAC are the most likely though clearly this new agreement represents an excellent development of the Company's relationship with Compass. We look forward to announcing further contracts with Compass locations soon."

For further information:

Crimson Tide plc

Barrie Whipp / Luke Jeffrey [phone]

finnCap (Nominated Adviser and Broker)

Corporate Finance: Julian Blunt / James Thompson [phone]

Corporate Broking: Andrew Burdis [phone]

Alma PR (Financial PR)

Josh Royston [phone]

For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/

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December 07, 2021 01:59 ET (06:59 GMT)