Remote Monitored Systems PLC (LSE:RMS, FRA:R22) (LON:RMS) said marketing of the Pro-Larva face mask improved thanks to the additional support provided to distribution partners in the UK, Europe and India.
In a trading update, the company added the Pro-Larva brand was successfully trademarked in the UK, which it said should assist with the sales efforts of partner Francis MacIntyre Limited (FML) and potentially lead to further orders following FML's initial 100,000 unit contract announced in March.
“As recently reported, sales have not been significant to date,” investors were told.
“However, encouraging conversations are ongoing with potential partners around the world and the board remains confident that sales will grow in the second half of 2021.
“Despite the global vaccine rollout and the lifting of certain restrictions, it is clear that masks continue to have a role in reducing general infection risk, with nearly two thirds of people in the UK expressing a desire to continue to wear masks.”
RMS said while sales of the Pro-Larva mask remain a key priority, the group is increasing its focus on developing the portfolio of new products.
“As previously stated, the board is committed to building up the research and development side of the business as it believes that the ability to commercialise the intellectual property within the business is what will underpin shareholder value,” it added.
In the same announcement, the market was informed that the company’s annual meeting and a general meeting have been called for August 17. They are being held at the Crowne Plaza Hotel, Wollaton St, Nottingham.
The meetings will consider the transfer of its shares in Gyrometric Systems Ltd, a change of name of the company to nanosynth group plc in line with its proposed rebranding strategy, and adoption of an enterprise management incentive scheme.