Crimsonwing plc – Interim Directors Statement

Crimsonwing plc – Interim Directors Statement

Crimsonwing plc announced that for the first three months (April to June 2008), the first quarter of the Financial Year, the Company has achieved its performance objectives and there is no reason to believe that the targets set for the Financial Year ending 31st March 2009 will not be achieved. The first quarter 2009 highlights include, amongst others:

Strong performance across all the operating companies and geographies with Crimsonwing registering a 72% increase in revenue when compared with the same quarter of 2008.

First quarter profits are in line with expectations.

The continued strength of the Euro (versus UK Sterling) is impacting profits however in order to reduce this exposure, on 1st July 2008 Crimsonwing acquired 100% of the issued share capital of VDA. This will increase Crimsonwing’s proportion of revenue in Euro from just under 25% to over 50% and hence will significantly reduce the impact of these exchange rate differences in future years.VDA is a Dutch IT software and services business that has been operating in Holland for 16 years with a client set predominantly in the media and publishing business.

On the 29th July 2008, the Board of Directors approved the declaration and payment of an interim dividend on current year of €260,000 representing a net dividend per ordinary share of €0.01.

Some new clients include Sun Microsystems – the multinational vendor of computers, software and IT services; Free Record Shop – the second largest Dutch retailer of home entertainment products selling CD’s, DVD’s and video games; Divestco — a Canadian oil and gas data, service and technology leader; Italian Fashion House Furla and Welsh jewellery producers Clogau Gold.

No other material events and/or transactions have taken place that would have an impact on the financial position of the Company such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.

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