Imaging Biometrics Limited
(“IBAI” or the “Company”)
Further Re: Purchase of interest in Kirkstall Limited
Imaging Biometrics Limited Limited (LSE: IBAI), provides an update following its announcement on 14 October 2025 regarding the purchase of the Company‘s interest in Kirkstall Limited (“Kirkstall”) from Truetide PLC (“Truetide”). Truetide currently holds a 29.35% interest in IBAI.
On 15 October 2025, IBAI entered into a variation to the sales and purchase agreement with Truetide in relation to the purchase of the shares in Kirkstall, pursuant to which Truetide has agreed to write off all loan balances previously owed by Kirkstall to Truetide, totalling £220,853.67, of which £28,500 was owed to The Ridings Early Growth Investment Company Limited, a subsidiary of Truetide.
The loans had been written down to zero by Truetide in its most recent accounts for the year ended 31 March 2025 as a prudent assessment of their current value, since the business was loss making and unlikely to make any repayments in the reasonably foreseeable future. As a result of these write-offs, Kirkstall has net assets of £71,000 and has generated revenue of £47,000 for the period from 1 April 2025 to date.
Kirkstall intends to file its accounts for the year ended 31 March 2025 with Companies House shortly and will subsequently change its financial year end to 31 December in order to align with the Group‘s year-end.
The Directors of the Company accept responsibility for the contents of this announcement.
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For further information:
Imaging Biometrics Limited
Tel: 01738 587555
Trevor Brown / Dr Al Musella / Brett Skelly / Michael Schmainda
Peterhouse Capital Limited
Tel: 020 7469 0936