Nanosynth Group PLC Strategy Update (9503T)
November 30 2021 - 2:00AM
UK Regulatory
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RNS Number : 9503T
Nanosynth Group PLC
30 November 2021
30 November 2021
nanosynth group plc
("nanosynth", the "Company" or the "Group")
Strategy Update
nanosynth group plc, the AIM quoted company is pleased to
present a Strategy Update.
Following the divestment of the non-core activities of
Gyrometric and Cloudveil and the return of the mask manufacturing
equipment to the supplier, the Company is now focused on the
development of its leading nanomaterials technology around
Pharm2Farm. Mark Duffin was appointed Group CEO in September 2021
and has already brought new key personnel and resources into the
business to strengthen the Company's operations and support
finance, sales, marketing, HR and quality and management functions.
The Board is considering relocating its operations in 2022 to a new
UK facility that may include a scalable state-of-the-art production
facility for nanomaterials to ensure that the Company improves its
nanoparticle production capacity and capabilities to deliver at
scale.
A review of potential sales markets has been carried out and the
exploitation of the Company's anti-viral technology remains a key
area of focus. In order to reduce the cost of sale, a UK and
overseas network of distributors is being established to supply
masks and related products which incorporate this advanced patented
technology. The Company is witnessing heightened levels of interest
in the current market following recent international and Government
guidelines. At the same time the Board is aiming to review and
renegotiate existing contracts, including the Company's previously
notified contract with VKE where to date 45,000 masks have been
delivered from the initial 250,000 order, to incorporate into this
new international distribution network. In addition to this, the
Company plans to target the HVAC market and increase marketing and
social media activities considerably.
A thorough assessment of the Company's in-house technology and
R&D pipeline has identified eight market sectors where we can
either manufacture products ourselves or work in partnerships where
the partners' IP, manufacturing capability, routes to market or
other capabilities can be enhanced using our in-house skills or
technology.
In addition to these organic growth initiatives within
Pharm2Farm, the Group is actively looking at growing its technology
and market presence in the nanotechnology and advanced materials
space through complimentary acquisitions.
Mark Duffin, CEO commented: "I am delighted to report that since
joining the Company we have made rapid progress developing and
beginning to implement our strategy which is designed to establish
a firm foundation for the business. The Board is committed to
generate shareholder value in the short to medium term. We will
continue to keep stakeholders appraised as we achieve key
milestones."
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.
ENQUIRIES :
nanosynth group plc
Mark Duffin (Chief Executive Officer) via IFC Advisory
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and Joint Broker
Stuart Gledhill
Caroline Rowe
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
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END
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