logo-loader
viewRemote Monitored Systems

Update on Geocurve business

/**/ link{ color: #0563C1 }visited{ color: #954F72 } .aa{size:612.0pt 792.0pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.aa{}p.au{margin-right:0cm;margin-left:0cm;font-size:10.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify; text-justify:inter-ideograph}span.av{color: black; font-family: "Calibri Light","sans-serif"; font-size: 11.0pt; font-div: italic}p.aw{margin-right:0cm;margin-left:0cm;font-size:10.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;text-align:justify; text-justify:inter-ideograph;line-height:16.9pt}span.ax{font-size:11.0pt;font-family:"Calibri Light","sans-serif";color:black}p.ay{margin-right:0cm;margin-left:0cm;font-size:10.0pt;font-family:"Times New Roman","serif";margin:0cm;margin-bottom:.0001pt;line-height:16.9pt}span.az{font-size:11.0pt;font-family:"Calibri Light","sans-serif"; color:black}p.ba{margin-right:0cm;margin-left:0cm;font-size:10.0pt;font-family:"Times New Roman","serif";line-height: 16.9pt; margin: 0cm; margin-bottom: .0001pt; text-align: center}span.bb{color: black; font-family: "Calibri Light","sans-serif"; font-size: 11.0pt; font-weight: bold} p.bc{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold; margin-bottom: 13.5pt; margin-left: 0cm; margin-right: 0cm; margin-top: 11.25pt; text-align: center}span.ak{font-family:"Calibri Light","sans-serif";color:black}p.bd{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify;text-justify:inter-ideograph}p.be{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-div: italic; text-align: justify; text-justify: inter-ideograph}p.a,li.a,div.a{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";}span.ag{font-size:10.0pt;font-family: "Calibri Light","sans-serif"}span.af{font-size:10.0pt;font-family:"Calibri Light","sans-serif"}table.bf{margin-left:-5.4pt;border-collapse:collapse}td.ad{width:229.75pt;padding:0cm 5.4pt 0cm 5.4pt}p.bg{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";font-weight: bold} span.ac{color:black} /**/
RNS Number : 7331V
Remote Monitored Systems PLC
05 December 2019
 

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.

 

5 December 2019

Remote Monitored Systems plc

("Remote Monitored Systems", the "Company" or the "Group")

Update on Geocurve business

The Directors of Remote Monitored Systems Plc ("RMS" or the "Company") announce an update in relation to the Company's wholly owned subsidiary, Geocurve Limited ("Geocurve").

 

As noted in the Company's interim results to 30 June 2019, released on 27 September 2019, following headcount reductions and restructuring within Geocurve during the first half of the year, Geocurve had returned to profitability and had been positioned to take advantage of further opportunities from its use of innovative technology in the surveying space. Since this time, the Board has concluded that the investment required to grow Geocurve to critical mass is not justified given the intense competition in the surveying sector and accordingly, the Directors have taken further action to reduce costs through a programme of additional redundancies.

 

The Board is currently reviewing strategic options for the Geocurve business and will provide further updates as appropriate in due course.

 

Trevor Brown executive director of RMS said: "It is disappointing that we have not been able to grow the Geocurve business as previously expected, however the Board has taken decisive action to protect shareholder funds by reducing the costs and risks of Geocurve."

 

ENQUIRIES:

 

Remote Monitored Systems plc


Trevor Brown (Executive Director)

+41 7941 55384

Nigel Burton (Non-Executive Chairman)

+44 7785 234447



SP Angel Corporate Finance LLP


Nominated Adviser and Joint Broker

 +44 20 3470 0470

Stuart Gledhill


Jeff Keating


Caroline Rowe




Peterhouse Corporate Finance


Joint Broker

+44 20 7469 0930

Lucy Williams


 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
UPDUGGCUPUPBPGC

Quick facts: Remote Monitored Systems

Price: 0.3

Market: LSE
Market Cap: £1.5 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: 'Impressive' results reported by Greatland Gold at Havieron

Headlines from the Proactive UK newsroom. Greatland Gold (LON:GGP) has reported more impressive results from its Haveiron project in Western Australia. In one hole drilled by partner Newcrest, the mineralisation extended for 94m at a grade of 4.5 grammes per tonne.  Vast Resources...

on 24/10/19