24 Jun 2021 07:00
24 June 2021
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.
Remote Monitored Systems plc
("RMS" or the "Company")
Distribution Agreement in India
The Company is pleased to announce the signing of a distribution agreement between the Company's wholly owned subsidiary, Pharm 2 Farm Ltd ("P2F"), and Vivek Kohli Enterprises OPC Private Ltd ("VKE") for VKE to distribute P2F's anti-viral mask, under the Pro-Larva brand name.
VKE has placed an initial order for 350,000 Pro-Larva masks to be airfreighted direct to their distribution centre in India. The masks will be distributed via well-established retail and commercial medical networks. Part of the proceeds from this order will be invested by P2F into a marketing campaign within India to support VKE and build demand for the Pro-Larva mask, which is expected to then lead to increasing repeat orders.
VKE is based in Uttar Pradesh, India, and is part of the Stag International Group ("Stag"), which was founded in 1922 and has a strong presence within the healthcare sector, amongst others, marketing personal protective equipment under the Pure.All brand (www.stag.global). Stag has recently commissioned the first factory within India to produce oxygen concentrators using unique US technology.
Antony Legge, Executive Chairman of RMS, said: "India represents a significant opportunity for our Pro Larva anti-viral mask and we are pleased to be partnering with Stag Global. Whilst this agreement represents an initial modest number of masks, the Company is in discussions with a number of Indian businesses regarding distribution agreements for the Pro-Lava mask and hopes to be announcing further positive news flow in the near term. This deal will help to strengthen P2F's position as a provider of anti-viral masks within the global healthcare market."
Vivek Kohli, Chief Executive of VKE, commented: "I'm delighted to play a strategic role in the introduction of this cutting-edge British technology, that will keep my fellow country men and women safer. This is an exciting opportunity for a new Anglo-British partnership to do good in India."
- ENDS -
ENQUIRIES:
Remote Monitored Systems plc
Antony Legge (Executive Chairman) via IFC Advisory
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint Broker
Lucy Williams
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen