Pharm 2 Farm Update

RNS Number : 8931I

Remote Monitored Systems PLC

16 December 2020

 

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.

16 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, Pharm2 Farm Limited ("P2F").

Receipt of new production line report

Further to the Company's announcement of Monday 14 December 2020, the Company has now received and reviewed the detailed report on the new production line. The report indicates certain areas of the line that require refinement prior to delivery, including the process by which the machine is adjusted for different input materials. These adjustments are expected to be completed during the next week alongside the final component finishing work noted in the Company's announcement of 11 December 2020.

Delivery of the Lemu mask making machine to Nottingham

In order to accommodate the adjustments noted above Lemu have advised of a further slight delay to the delivery of the machine. The finished machine will be ready to depart the manufacturers premises on 24^th December 2020, the date of arrival in Nottingham is not known, the intention is of it being ready to commence operation by mid-January 2021.

The Company expects to provide a further update on expected production volumes once the machine has been commission and is operational in Nottingham.

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ENQUIRIES :

Remote Monitored Systems plc

John Richardson (Executive Director)  [phone]

SP Angel Corporate Finance LLP                                                                [phone]

Nominated Adviser and Joint Broker

Stuart Gledhill

Caroline Rowe

Peterhouse Corporate Finance   [phone]

Joint Broker

Lucy Williams

 

END

 

 

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