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First Day of Dealings

This document is not for distribution in the United States, Canada, Australia or Japan. This document does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful

Craneware plc, a leader in revenue cycle management software solutions for the US healthcare market, is pleased to announce that dealings will commence today in its Ordinary Shares following its admission to AIM, under the ticker CRW. The Ordinary Shares will also be admitted to trading today on PLUS markets under the same ticker.

Craneware has raised £5.4 million (prior to expenses) through a placing by Peel Hunt of 4,247,830 new Ordinary Shares at the Placing Price of 128p per share. A further 11,793,142 existing Ordinary Shares have been placed by Peel Hunt at the Placing Price on behalf of existing Craneware shareholders, resulting is a total placing of approximately £20.5 million. Following the placing, there will be 24,929,950 Ordinary Shares in issue, giving Craneware a market capitalisation of £31.9 million at the placing price. The percentage of Ordinary Shares in public hands on Admission will be approximately 48 per cent.

Craneware’s strategy is to continue its expansion into the US healthcare software market, both through organic growth initiatives, including the development of new software products that can be rolled out to the Company’s customer base, and through acquisitions.

Keith Neilson, CEO of Craneware, commented:

“The high level of interest shown by investors in Craneware is testament to the power of our products, our leadership position, the market drivers, and the under-penetrated nature of this sector. Our strategy now is to use the funds raised through the Placing to capitalise on the market opportunities ahead of us, extending our coverage in the US market and generating further growth and profits. We look forward to life as a public company with confidence.”

For further information, please contact:

Craneware plc

  • +44 (0) 131 550 3100
  • Keith Neilson, CEO
  • Craig Preston, CFO

Peel Hunt

  • +44 (0) 20 7418 8900
  • Oliver Scott
  • Nicholas Marren

Newgate Threadneedle

  • +44 (0) 20 7653 9850
  • Caroline Evans-Jones
  • Fiona Conroy

About Craneware

Founded in 1999, Craneware has headquarters in Edinburgh, Scotland with offices in Atlanta and Arizona, employing over 200 staff. Craneware is the leader in automated revenue integrity solutions that improve financial performance and mitigate risk for healthcare organisations. Craneware’s market-driven, annuity SaaS solutions help hospitals and other healthcare providers more effectively price, charge and code for services and supplies associated with patient care. These optimise reimbursement, increase operational efficiency and minimize compliance risk. By partnering with Craneware, clients achieve the visibility required to identify, address and prevent revenue leakage. To learn more, visit craneware.com.

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