(Alliance News) - Remote Monitored Systems PLC on Friday said it has entered into an exclusivity arrangement and agreed a potential acquisition of an undisclosed company that operates in the fast growing medtech and biosecurity sectors.
The surveying services company said the consideration for the proposed acquisition, should it proceed, is expected to be satisfied by the issue of new Remote Monitored Systems shares.
"The acquisition is subject, inter alia, to the completion of mutual due diligence by both parties and there can be no certainty that a transaction will proceed," Remote Monitored Systems said in its statement Friday.
AIM-listed Remote Monitored Systems shares were trading 3.5% higher in London on Friday at 0.27 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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