RMS.L Share News (RMS)

(Sharecast News) - Surveying services company Remote Monitored Systems said on Wednesday that it was on the hunt for a new chief executive and was targeting sales growth for its ProLarva face mask and the development of new products at its Pharm 2 Farm subsidiary.
RMS said it was "confident" that it now has a "smooth running, high-quality supply chain" for the production of its face mask products, noting that it also expected to make further progress over the coming weeks regarding issues with its mask-making machine.

The AIM-listed group also stated it was in a position to increase sales and marketing efforts after entering into a distribution agreement with Numed Holdings, which will supply the P2F mask into GP, dental and veterinary surgeries, opticians and care homes across the UK and Ireland, and was also in discussions with multiple potential large customers in the UK and overseas and hopes to announce "some significant orders in the near future".

However, RMS also warned that an agreement with Francis McIntyre had experienced administrative delays, meaning it was not in a position to make deliveries beyond an initial order of 100,000 masks.

Chairman Antony Legge said: "While the team had hoped to be in a position to secure larger orders sooner for P2F's ProLarva mask, it is only recently that supply chain issues have been resolved such that P2F has the capability to meet any large orders and we look forward to announcing further sales progress in due course.

"Long term, the board is committed to building up the research and development side of the business, marketing the ability of nano-materials and out-sourcing the manufacturing to third parties."

As of 1120 BST, Remote Monitored shares had tumbled 14.14% to 1.30p.