CSS announces second purchase order from Mammoth

Roadside Real Estate PLC

05 June 2024

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Roadside Real Estate plc

("Roadside" or the "Company")

CSS announces second purchase order from Mammoth

Roadside (AIM: ROAD) announces that its subsidiary, Cambridge Sleep Sciences, ("CSS") the science-based sleep technology business behind SleepEngine®, has received its second purchase order from Mammoth International Ltd., ("MIL") for the provision of its technology in the production of 2,000 Smart Pillows, paying a royalty fee of £50 per pillow, resulting in a further £100,000 in revenues.

This order forms part of CSS's agreement with MIL to licence SleepEngine® technology, first announced on 19 September 2023. As previously announced, MIL has chosen to commence its rollout of CSS's technology with Smart Pillows, having taken on the exclusive Smart Pillow license CSS agreed with Sleep Sense International Limited, ("SSI") announced on 6 June 2023.

As part of the licence transfer from SSI to MIL, the minimum order quantity is 10,000 units and MIL has not been granted global exclusivity or a 12-month extension, as CSS continues to explore licencing agreements with additional manufacturers.

The Company will provide a further update at the time if MIL were to potentially agree to place further Smart Pillow orders and/or its first Smart Mattresses order. At present, there can be no certainty as to the timing or quantum of further orders or if they will be placed.

CSS's Chief Executive, Dr Julian Stone, said:

"We are pleased to announce a second order from Mammoth and look forward to continuing to work closely with the business as our technology is rolled-out into the market.

"Our Software-as-a-Service model continues to gain momentum, with a wide variety of applications to help SleepEngine® users achieve better quality sleep. We continue to make progress with our licencing activities, identifying opportunities to deploy our technology."

CSS remains in advanced negotiations with several household names on a number of new multi-year enterprise licensing deals for its SleepEngine® technology. Further announcements will be made as soon as practicable when these licences are signed.

Update on Ultrahuman development licence

As announced on 27 March 2024, the development licence CSS signed with Ultrahuman Healthcare Pvt Ltd, ("Ultrahuman") has progressed as anticipated. CSS is using Ultrahuman's data to explore the creation of personalised SleepEngine® profiles for users of Ultrahuman's wearable devices as a precursor to the establishment of a Partnership Agreement.

There can be no certainty as to the success of this process, nor as to the timing or quantum of orders that may result from a successful development stage or subsequent Partnership Agreement, or if such orders will be placed.

New Partnership with Achieveminds Agency

CSS today also announces a new partnership with Achieveminds, S.L.U, ("Achieveminds") the leading esports performance consulting agency. CSS will collaborate with Achieveminds to explore the effects of enhanced sleep on athlete performance, recovery and overall wellbeing.

Athletes will participate in a trial where they will use a smart pillow featuring the scientifically developed SleepEngine® technology. Sleep quality will be tracked and mapped to improvements in key performance metrics including alertness and reaction times, accuracy, decision making and recovery times. The trial will be supported by existing partners of CSS, including Mammoth.

Roadside's Executive Chairman, Charles Dickson, said:

"We're delighted with the progress Julian and his team are making with their business development activities. Each new agreement for - and application of - SleepEngine® technology demonstrates the business's value to all stakeholders, including new and prospective shareholders."

As previously announced, the Company recently sold 13.6% of CSS's shares to CGV Ventures 1 Ltd. for £7.5 million and CSS recently secured vital IP rights that underpin its future prosperity.

The Board continues to evaluate the best corporate setting for CSS to maximise shareholder value from the Company's investment in CSS.

There can be no certainty that any de-merger or sale of CSS will ultimately be made or as to the value of any such possible transaction.

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For more information

Roadside Real Estate plc Charles Dickson, Executive Chairman	c/o Montfort
Cavendish Capital Markets Limited (Nomad and Joint Corporate Broker) Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance) Tim Redfern (ECM)	[phone]
Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker) Mark Young Jonathan Wilkes-Green Catriona Neville	[phone]
Montfort Olly Scott Georgia Colkin	[phone]

About Roadside

Roadside is a real estate business focused on building and scaling a high-quality portfolio of modern roadside retail assets, including modern EV charging infrastructure.

About Cambridge Sleep Sciences Ltd

Cambridge Sleep Sciences Ltd, is a legacy Life Sciences investment of which Roadside Real Estate plc holds a 75% interest. CSS develops technology which improves natural sleep. Using the principles of neuroscience and cutting-edge technology to enhance brain activity during sleep, its innovative solutions aim to improve health, wellbeing and enhance quality of life.

Its SleepEngine® technology has been developed and refined over a decade by a team of researchers, scientists, sound engineers and medical experts. This unique technology produces sounds which emulate the waves created by the brain during sleep cycles. The sleep sounds guide the user's brain through the sequence of healthy sleep cycles, helping them fall asleep and achieve the quality of sleep they need in a consistent and optimal way.

Find out more at: www.cambridgesleepsciences.com

 

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