Checkit plc (AIM:CKT) made a Possible Offer to acquire Crimson Tide plc (AIM:TIDE) for £13.6 million on June 4, 2024. Under the terms of the Possible Offer, each Crimson Tide shareholder would receive For each Crimson Tide share 7 Checkit shares. The transaction is subject to with the recommendation or consent of the Crimson Tide Board, if a third party announces a firm intention to make an offer for Crimson Tide; or if Crimson Tide announces a Rule 9 waiver proposal or a reverse takeover. As on June 5, 2024, The Board is open to exploring all options that might have the benefit of enhancing value for Crimson Tide's shareholders. As on June 14, 2024, A revised proposal was received from Checkit in which Checkit stated that it "is considering offering up to 9 of its shares for every 1 share" of the Company. Unlike the First Checkit Proposal, the Revised Checkit Proposal is stated to be subject to certain pre-conditions, including satisfactory completion of a due diligence exercise. Certain of the Board's wider concerns with the First Checkit Proposal, including as to financial terms, governance and management, were not addressed to the Board's satisfaction in theRevised Checkit Proposal. Accordingly, the Board confirms that the Revised Checkit Proposal has today been rejected. The Board notes that neither the First Checkit Proposal nor the Revised Checkit Proposal contained a proposed cash alternative. This announcement is made without the consent of Checkit and there can be no certainty that any firm offer will be made by Checkit nor as to the terms of any firm offer. The Board also announces that on June 14, 2024, a conditional and non-binding proposal was received from Ideagen Limited regarding a possible cash offer for the Company at a price of £3.12 per Crimson Tide share. The Board is considering the Ideagen Proposal and further updates will be provided as appropriate. This announcement is made without the consent of Ideagen and there can at this stage be no certainty that any firm offer will be made by Ideagen nor as to the terms of any firm offer.

Cavendish Capital Markets Limited, Singer Capital Markets acted as financial advisor to Checkit.