(Alliance News) - Remote Monitored Systems PLC on Tuesday noted the recent significant increase in its share price but stated it is not aware of any reasons for the change.
Shares in the London-based data collection and surveying firm were trading 30% higher at 2.15 pence each on Tuesday morning in London.
Last Friday, strategic investor Braveheart Investment Group PLC said its subsidiary Pharm 2 Farm Ltd had overcome the delay in testing, adding that live virus testing at laboratories confirmed that the coated face mask textile displayed high virucidial activity. It said that the testing results met the requirements for ISO 18184 certification with more than a 90% kill rate for up to 7 hours, while being benign to healthy mammalian cells.
Braveheart noted that following the positive test result, Pharm 2 Farm plans to produce anti-Covid-19 surgical face masks certified to ISO 18184 for sale by the end of 2020.
Braveheart also stated that the conditional sale of its 52% stake in Pharm 2 Farm to Remote Monitored is expected to complete November 5. Following the completion of the sale, Braveheart will hold a 37% stake in RMS.
Shares in Braveheart were trading 5.% higher at 47.00 pence each on Tuesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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