Remote Monitored Systems PLC Braveheart update on P2F, RMS update on Gyrometric (5595B)
October 08 2020 - 11:27AM
UK Regulatory
TIDMRMS
RNS Number : 5595B
Remote Monitored Systems PLC
08 October 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.
8 October 2020
Remote Monitored Systems plc
("Remote Monitored Systems", "RMS", the "Company" or the
"Group")
Announcement from Braveheart Investment Group with update on
Pharm2Farm
and
Update on Gyrometric
The Board of Remote Monitored Systems plc ("the Company") notes
the following announcement published by Braveheart Investment Group
("Braveheart") today in respect of Pharm 2 Farm Limited ("P2F"). As
announced on 21 August 2020, RMS has signed a binding Share
Purchase Agreement for the acquisition of 100% of the share capital
of P2F (the "Acquisition"). Completion of the Acquisition remains
subject to regulatory and RMS shareholder approval and we expect to
update shareholders this month in that regard . The full text of
the Braveheart announcement is set out below.
" Braveheart Investment Group (AIM: BRH) has been advised by
Pharm 2 Farm Limited ("P2F") of a short delay in the planned
testing of its anti-viral face mask material.
The Health and Safety Executive ("HSE") and its Advisory
Committee on Dangerous Pathogens, has revised the policy on working
with coronavirus (SARS-CoV-2) and has scheduled an inspection at
the test facility where P2F is conducting its trials. This has had
the consequential effect of delaying the trial while HSE undertake
an inspection of the CL-3 laboratory to ensure all the appropriate
safeguards are in place. The laboratory is an established UK
university laboratory with all the appropriate documentation in
place and administered by international virology experts and
Braveheart has been advised by P2F that it does not anticipate any
problems with the inspections that would delay completion of the
P2F trials beyond 30 November 2020.
The P2F team is working urgently with the University to overcome
this problem but also to locate an alternative testing laboratory,
if one should be required.
P2F has received a conditional order for 1 million face masks
per month for a period of one year from 1 January 2021. This order
is subject to contract and conditional on the masks successfully
completing antiviral and other performance tests and receiving the
necessary PPE certifications. The order is also conditional on the
buyer entering into sales contracts to sell a similar volume of
masks per month.
In readiness for commercial release, P2F will shortly make a
patent application to protect its technology for producing the
antiviral material, which it is confident could be applied to air
filters, face masks and other PPE.
Elsewhere in its operations, P2F has now completed the initial
trial of its proprietary zinc nanotechnology, with positive
results, at a citrus farm in the UK. P2F will commence trials in
the USA shortly and if success is replicated in the USA trials, it
expects to launch this product in early 2021, for farmers to apply
during the 2021 growing season. The product is part of the
company's nSitu(TM) range of nano-agritech materials, designed to
support commercial farmers around the world - in this case by
helping to protect the USA's annual 8 million tons of citrus fruit
crops, with an estimated value of such crops of over $3.3
billion."
Gyrometric Update
In relation to Gyrometric, the Company notes the UK Prime
Minister Boris Johnson this week announced a proposal for a
substantial increase in UK offshore wind turbine capacity. This new
capacity will require comprehensive monitoring to maximise
performance and minimise down time which is at the heart of
Gyrometric's patented technology.
Gyrometric continues to be in detailed technical discussions
with one of the world's largest manufacturers of offshore wind
turbines about the installation and testing of this Gyrometric
technology on a large wind turbine early in 2021.
The testing aims to prove the Gyrometric designed laser system,
a relatively light touch installation, and will provide monitoring
of important parameters not previously measurable on a rotating
turbine or indeed in the field on an extremely large and powerful
wind turbine.
The Gyrometric system is entirely designed and manufactured in
the UK, and so, we believe, the business is well positioned to meet
the challenge of UK technological services being central to the
increase in wind turbine capacity as posed in the recent prime
ministerial announcement.
ENQUIRIES:
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Paul Ryan (Non-Executive Chairman) +32 475 754 148
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and joint broker
Stuart Gledhill
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Joint broker
Lucy Williams
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