Remote Monitored Systems PLC Planned Board Changes & Warrant Update (0637K)
December 30 2020 - 2:00AM
UK Regulatory
TIDMRMS
RNS Number : 0637K
Remote Monitored Systems PLC
30 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.
30 December 2020
Remote Monitored Systems plc ("RMS" or the "Company")
Planned Board Changes & Warrant Update
The Company notes recent shareholder concerns and is pleased to
announce a number of changes to the Board which are expected to be
completed within a few weeks.
The Board intends to appoint Alex Vergopoulos as an Executive
Director of RMS with responsibility for Pharm 2 Farm Limited
("P2F"), of which he is a director. The appointment of Mr
Vergopoulos will provide the RMS Board greater oversight of
deliverables and performance targets in respect of P2F. His
appointment will be reviewed after a period of three months. The
Board is also proceeding with the appointment, as planned, of two
new independent non-executive directors, who have now been
identified.
The Board have been advised by the Company's Nomad, SP Angel
Corporate Finance LLP, that it will endeavour to undertake the
necessary processes to appoint the new directors as swiftly as
practicable, in accordance with the AIM Rules and their obligations
as the Company's Nomad. Contemporaneous with the appointment of the
new non-executive directors, one of whom is expected to become the
Chairman of the Company, Paul Ryan will step down from the Board.
The Board further announces that Trevor Brown will assume the role
of non-executive director.
The Board confirms that a General Meeting will be convened early
in the New Year in order for the shareholders to consider approval
of the placing related issue of warrants as announced on 18
December 2020, with further announcements being made upon posting
of the requisite notice.
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc
John Richardson (Executive Director) +44 7751 118916
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
Peterhouse Corporate Finance +44 20 7469 0930
Joint Broker
Lucy Williams
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END
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