Pharm 2 Farm Update

RNS Number : 3524F

Remote Monitored Systems PLC

16 November 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

16 November 2020

Remote Monitored Systems plc ("RMS" or the "Company")

Pharm 2 Farm Update

The Company is pleased to issue the following update on its wholly owned subsidiary Pharm 2Farm Limited ("P2F").

P2F is continuing to receive enquiries from prospective distributors and purchasers for its viricidal mask and now anticipates that future demand for its mask may outstrip the production line capacity of five million viricidal face masks per month.

To fulfil part of the anticipated excess demand, P2F expects to supply its patented filter material, initially, to certain partner mask manufacturers, until P2F has itself procured additional production lines.

Over the weekend P2F signed binding heads of terms with a manufacturer of surgical masks in Germany. The German manufacturer will subcontract to supply complete masks to P2F to the P2F specification and brand name, and also purchase P2F filter material for their own brand masks. Under the heads of terms the manufacturer will also develop and supply anti-viral C-Fold masks using P2F filter material to extend P2F's market reach. The heads of terms are subject to final contractual agreement between the parties.

The Company will provide further updates to the market as appropriate.

ENDS

ENQUIRIES:

Remote Monitored Systems plc

Trevor Brown (Executive Director)                                                                [phone]

Paul Ryan (Non-Executive Chairman)    [phone]

SP Angel Corporate Finance LLP                                                                          [phone]

Nominated Adviser and joint broker            

Stuart Gledhill

Caroline Rowe

Peterhouse Capital Limited                                                                                  [phone]

Joint broker 

Lucy Williams

Duncan Vasey

 

END

 

 

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