Remote Monitored Systems plc ("RMS" or the "Company") announces that further to the announcement on 30 December 2020, the Board has appointed two new non-executive directors; Antony Legge and Richard Clarke. Antony Legge succeeds Paul Ryan as the Company's Chairman, who stepped down on 8thJanuary 2021.
The Board would like to thank Paul Ryan for his time and service to the Company, most recently as its Chairman. Paul has been the longest serving board member of the Company and he steps down with the Company in possession of a strong balance sheet and a range of intellectual property assets in the three subsidiaries; Cloudveil, Gyrometric and Pharm 2 Farm, a number of which the Board believes have significant commercial potential. The Board wishes Paul well for the future.
Antony Legge and Richard Clarke bring a range of corporate experience to their roles as Non-Executive Directors. Antony Legge spent many years acting as a corporate finance advisor including as a nominated adviser to AIM Companies. Richard Clarke has extensive experience as a director in technology companies and is currently finance director of PowerPhotonic Ltd, a manufacturer of advanced laser optics. For several years, he served on the Corporate Governance Committee of the Institute of Chartered Accountants in England and Wales.
Antony Legge, Chairman, said; "Whilst the immediate focus is on the production of masks using Pharm 2 Farm's nanotechnology, this is just one near-term application for this technology. The challenge for the new board will be to effectively utilise the resources from the recent placing to commercialise the Group's intellectual property assets across all the businesses, most of which are still at an early stage in their development, in order to meet current valuation expectations."