29 Dec 2020 07:00
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
29 December 2020
Remote Monitored Systems plc ("RMS" or the "Company")
Pharm 2 Farm Update
Remote Monitored Systems plc, announces the following updates in respect of its wholly owned subsidiary, Pharm 2 Farm Limited ("P2F").
Receipt of new production line
The Company received an update from the machine suppliers on the afternoon of 24th December 2020 indicating a delay in the delivery of the machine. While the machine was ready for loading as expected on 24th December, the haulier company advised that it was unable to make the delivery due to the situation at the English-French border. The earliest the machine is now likely to be loaded is 4th January 2021. Further updates, including in relation to the expected date for delivery in Nottingham, will be advised in due course.
Mask Certification update
The test results for the certification of the Company's 4 ply mask (targeted for everyday use) are now expected to be received in the first half of January 2021.
The test results for the 5 ply masks (targeted at Healthcare professionals in high risk environments) are now likely to be available in early February.
Mask manufacture
The delays in the machine delivery and mask approval testing noted above mean that expected maximum production volumes of 4 ply masks in Nottingham are likely to be 0.5m and 1.3m units in January and February 2021 respectively.
5 ply mask manufacture is not likely to commence until early February at the earliest with any production of 5 play mask in Nottingham reducing the 1.3m 4 ply mask production anticipated in February accordingly.
Once the certifications noted above are granted the Company anticipates placing an order with Volz for 0.5m masks incorporating P2F's antiviral material layer.
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ENQUIRIES:
Remote Monitored Systems plc
John Richardson (Executive Director) +44 7751 118916
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