Scheme document published for the £6.5 million recommended all-share merger between Crimson Tide and Checkit
February 2025
Crimson Tide is an LSE AIM listed provider of mpro5, the process management app. mpro5 is delivered on all modern devices and enables organisations to digitally transform their business with a view to improving customer experience, safety and compliance and operational efficiency. In doing so Crimson Tide is able to help customers overcome inefficiencies, unlocking substantial cost savings and productivity gains whilst strengthening customer workforces with smart mobile working. Integrating with IoT sensors (such as temperature, or humidity) mpro5 provides customers with a strong data foundation enabling them to make informed and actionable decisions about their day to day operations.
Checkit is also an LSE Aim listed Company which was incorporated in January 1948.
Checkit is the augmented workflow solution for frontline workers and smart sensor automation, enabling large multinational and complex organisations to operate more safely, efficiently and sustainably – driving them towards achieving intelligent operations.
The Company has hundreds of customers across the globe, including Global Fortune 500 and public health organisations. Its customers are digitising their manual processes through their highly customisable workflow software and top-of-the-line Internet of Things sensors, increasingly aided by Machine Learning and Artificial Intelligence. More than 12 billion sensor readings and millions of completed workflows per year are sent through Checkit’s platform enabling customers to become more efficient, ensure safety and deliver complete operational visibility.
On 11 February 2025, the boards of Crimson Tide and Checkit, announced that they had reached agreement on the terms of a recommended all-share merger pursuant to which Checkit will acquire the entire issued and to be issued ordinary share capital of Crimson Tide, to be implemented by way of a Court-sanctioned scheme of arrangement of Crimson Tide under Part 26 of the Companies Act 2006, which requires the approval of Crimson Tide Scheme Shareholders and Crimson Tide Shareholders and the sanction of the Court.
Publication of the Scheme Document
The Perivan shareholder communications team was delighted to work with the advisory teams who included Singer Capital Markets who acted as Financial Adviser, Nominated Adviser and Broker to Checkit, Cavendish Capital Markets who acted as Financial Adviser, Nominated Adviser, Rule 3 Adviser and Corporate Broker to Crimson Tide and Shoosmiths and Fieldfisher who acted as Legal Advisers on the Scheme and associated ancillary documents, which were successfully published and posted to qualifying shareholders on 20th February 2025.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.
