Remote Monitored Systems PLC Board appointment,update on mask production and GM (9326L)
18 January 2021 - 6:00PM
UK Regulatory
TIDMRMS
RNS Number : 9326L
Remote Monitored Systems PLC
18 January 2021
18 January 2021
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.
Remote Monitored Systems plc ("RMS" or the "Company")
Appointment of Executive director, update on Mask production and
General Meeting
Remote Monitored Systems plc ("RMS" or the "Company") announces
that further to the announcement on 30 December 2020, the Board has
appointed Alex Vergopoulos as an Executive Director of the
Company.
Appointment of Alex Vergopoulos
Alex has a wealth of experience in the print and manufacturing
industry and has worked closely with one of Pharm 2 Farm Ltd's
("P2F") production partners, who are using their proprietary
technology to apply P2F's copper nano particles onto the breathable
fabric that makes up the <ALPHA>-virion, or viricidal, layer.
Alex's initial responsibility will be to oversee the production and
sales of the P2F viricidal surgical masks.
Update on mask production
The mask manufacturing machine arrived from Lemu, as expected,
and has been installed in a clean room in Nottingham's BioCity.
Work begins this week to commission the machine and commence
production.
The last element prior to full scale production of the Company's
4-ply mask is the certification of the mask to EN14683 standard
(Type IIR). The mask has now passed four of the five required
tests, as follows:
Bacterial Filtration Efficiency (BFE): this tests the filtration
capacity of the mask. The P2F product achieved a 98.77% result;
higher than the 98% required.
Differential Pressure: this tests the breathability of the mask
with this test having been previously passed as advised on 15
December 2020. The maximum limit to obtain Type IIR is
<60pa/cm(2) . The P2F mask achieved 46.4pa/cm(2) which provides
a good balance of breathability and BFE.
Splash resistance: this tests the resistance of the mask to
penetration by blood fluid at 16kPa. This test is only required for
Type IIR (differentiating it from Type II) as this type of mask can
be used in a surgical setting. The key to passing the test is to
have a hydrophobic outer layer on the mask. 100% of the masks in
the P2F sample passed this test compared to the minimum 90% pass
rate requirement.
Microbiological cleanliness: this measures the quantity of
microorganisms on the mask, effectively, checking the cleanliness
of the manufacturing environment. The P2F masks passed, coming in
below the maximum permitted measure of 30 cfu/g (Note: CFU is a
microbiological measure for the number of viable cells in a
sample).
The last test is the biocompatibility test, which tests the
reaction to human skin - cytotoxicity, irritation and
sensitization. This test has been delayed and is now expected to be
completed in the next week.
Assuming that commissioning proceeds as expected, the Company is
working towards producing between 0.3m and 0.5m masks before the
end of January; before scaling up production to commercial levels
in February and March. Discussions are also continuing with Volz
Group, which needs to conclude its own certification process, for
it to manufacture both a surgical mask and FFP2 masks, although
production is not expected to commence much before the end of the
first quarter.
Whilst the move to production is a positive step; the success of
the operation will be demonstrated through securing sales orders
for the Company's products. Whilst interest remains strong, no firm
orders have been received as yet with achieving certification an
important step for potential customers.
General Meeting
The Board anticipates issuing the notice of general meeting in
respect of the placing warrants, as announced on 18 December 2020,
in the next week.
The following details in relation to the appointment of
Alexander Stephen Vergopoulos (aged 49) are disclosed in accordance
with Schedule 2(g) of the AIM Rules:
Current directorships Past directorships held within
the last five years
Fortoak Direct Ltd Stone Labels Limited
-------------------------------
Fortoak Investments Ltd
-------------------------------
Fortoak Labels Limited
-------------------------------
Fortoak Ltd
-------------------------------
Fortoak Manufacturing Ltd
-------------------------------
Fortoak Materials Ltd
-------------------------------
Fortoak Packaging Ltd
-------------------------------
Fortoak PPE Ltd
-------------------------------
Fortoak Rolls Limited
-------------------------------
Malver Ltd
-------------------------------
Matchbird UK Ltd
-------------------------------
Meriden Paper Limited
-------------------------------
Natupack Ltd
-------------------------------
Naturoll Ltd
-------------------------------
Ordian Ltd
-------------------------------
Pharm 2 Farm Ltd
-------------------------------
PurplePaper Ltd
-------------------------------
Strawberry Capital Ltd
-------------------------------
Sustech Ltd
-------------------------------
Ticketmedia Ltd
-------------------------------
Veomee Ltd
-------------------------------
Alex Vergopoulos is a director of Meriden Paper Limited which is
currently in the process of a Creditors' Voluntary Liquidation. It
is expected that secured and preferential creditors will be repaid
in full, with an estimated shortfall to unsecured creditors of
approximately GBP1.5m as at today's date.
- ENDS -
ENQUIRIES :
Remote Monitored Systems plc
John Richardson (Executive Director) +44 7751 118916
Antony Legge (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
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