18 Sep 2020 07:30
18 September 2020
Remote Monitored Systems plc ("Remote Monitored Systems", "RMS", the "Company" or the "Group")
Announcement from Braveheart Investment Group
The Board of Remote Monitored Systems plc notes the following announcement published by Braveheart Investment Group ("Braveheart") today in respect of Pharm 2 Farm Limited ("P2F"). As announced on 21 August 2020, RMS has signed a binding Share Purchase Agreement for the acquisition of 100% of the share capital of P2F (the "Acquisition"). Completion of the Acquisition remains subject to regulatory and RMS shareholder approval. The full text of the Braveheart announcement is set out below.
"Update on the Pharm2Farm anti-viral mask project
Braveheart Investment Group (AIM: BRH), is pleased to announce that Pharm 2 Farm Limited ("P2F") has placed an order for an automated face mask production line which is expected to be delivered in November 2020 and commissioned by the end of December 2020.
The face mask production line, which is manufactured in Europe, has the capacity to produce up to five million standard or anti-viral face masks per month.
Conventional surgical type masks typically comprise of three layers, with the inner layer acting as a physical barrier to viruses and bacteria. However, they are only recommended for up to two hours of continual use as this layer can become moist and fail, thereby allowing the virus to penetrate though. P2F has developed a second defensive layer that incorporates its own nanotechnology, which is engineered to kill viruses and bacteria. Combining this new active layer with the physical barrier layer, to produce four layer (ply) masks, is expected to improve user safety over a prolonged use. This new material is currently undergoing testing, specifically, with respect to the time taken to kill viruses, including COVID-19. These tests are, being undertaken at the University of Nottingham and results are expected by the beginning of October. Following a satisfactory outcome of the tests undertaken at the University of Nottingham, it is envisaged that manufacture of the anti-viral face masks will commence in the first quarter of 2021. In the event that these tests do not provide a satisfactory outcome, the production line will be used to produce conventional surgical type masks, which P2F believe could still be produced on a profitable basis."
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ENQUIRIES:
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Paul Ryan (Non-Executive Chairman) +44 7785 234447
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Corporate Finance +44 20 7469 0930
Joint Broker
Lucy Williams