Pharm 2 Farm Update

RNS Number : 9047J

Remote Monitored Systems PLC

29 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.

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 24^th December 2020 indicating a delay in the delivery of the machine. While the machine was ready for loading as expected on 24^th 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 4^th 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.  

- ENDS -

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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