Remote Monitored Sys - Conditional Agreement to Acquire 100% of P2F
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.
Remote Monitored Systems plc
("RMS" or "the Company")
Conditional Agreement to Acquire 100% of
RMS (AIM: RMS) is pleased to announce that further to the announcement of
RMS considers that the opportunity to acquire and unite the two shareholdings of P2F, a business operating in two vital sectors and on the brink of near term growth, will lead to significant enhancement of shareholder value for RMS shareholders.
The vendors of P2F are Braveheart Investment Group plc (51.72%) ("Braveheart") and Dr.
The Vendors are presumed to be acting in concert and as they will own more than 50%, and Braveheart will own more than 30%, of RMS on completion of the Acquisition, the Acquisition is conditional upon a waiver being granted by the
It is also intended that upon completion of the Acquisition, the Company, the
A circular setting out further details of the Acquisition, the relationship agreement and the Rule 9 Waiver (including details in respect of any other parties deemed to be acting in concert with the Vendors), and giving notice of the General Meeting to approve these proposals (the "Circular") will be sent to the Company's shareholders as soon as reasonably practicable.
Related Party Transaction
Braveheart, as a substantial shareholder of the Company, is considered to be a "related party" as defined under the AIM Rules and accordingly, the proposed purchase of Braveheart's shareholding in P2F as part of the Acquisition, constitutes a related party transaction for the purposes of Rule 13 of the AIM Rules.
The Directors independent of the Acquisition, being
A further announcement will be made in due course.
Pharm2farm uses a patented process for producing and functionalising nanoparticles for various applications including human, animal and crop health. Since, Braveheart Investment Group acquired an interest in Pharm2Farm, the team has moved into a new facility in MediCity Nottingham and more than doubled nanoparticle production capacity. Pharm2Farm's strategy is focused on two markets:
Crop nutrition: Pharm2Farm has already received orders from key distributors in the
Anti-viral Face Mask: Pharm2Farm is developing a nanotechnology enabled anti-viral face mask. Proof of concept and the design of a prototype is currently underway and expected to be completed by the end of the year. Once proven, Pharm2Farm will commence the commercial manufacture of masks in the
P2F had unaudited revenues of
SP Angel Corporate Finance LLP +44 20 3470 0470
Nominated Adviser and joint broker
Peterhouse Capital Limited +44 20 7469 0930
This information is provided by RNS, the news service of the
Quick facts: Remote Monitored Systems
Market Cap: £16.79 m
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