Nanosynth Group PLC Update on Distribution Agreement in India (0608K)
August 27 2021 - 8:30AM
UK Regulatory
TIDMNNN
RNS Number : 0608K
Nanosynth Group PLC
27 August 2021
27 August 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside is now considered to be in
the public domain.
nanosynth group plc
("nanosynth" or the "Company")
Update on Distribution Agreement in India
The Board of nanosynth notes commentary in relation to its
distribution agreement with Vivek Kohli Enterprises OPC Private Ltd
("VKE"), and in particular that VKE considers that such partnership
could generate over GBP17m in revenue.
As announced in the Company's RNS relating to the distribution
agreement on 24 June 2021, the Company considers that India
represents a significant opportunity for the Company and its Pro
Larva anti-viral mask. Following the recent launch of the product
in India, the Company is looking to make delivery of 250,000 masks
in the next few weeks, with the remainder of the initial order to
follow. These masks will, in part, be distributed to interested
parties in India, with whom VKE have been in discussions, to help
establish the level of demand and timeframes for future orders. The
Company is delighted with VKE's support and enthusiasm for the Pro
Larva mask and naturally hopes that further significant orders will
follow although there can be no guarantee of such.
The Company looks forward to providing shareholders with further
updates in relation to this partnership as it continues to
develop.
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc +44 77 6355 5919
Antony Legge (Executive Chairman)
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
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
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END
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August 27, 2021 08:30 ET (12:30 GMT)
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