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On 13 September 2022, Microsaic Systems plc announced DeepVerge Group plc will appoint it as a partner to provide mass spectroscopy-based sample analysis for a two-year environmental project. Services are expected to commence in or after October 2022, with an anticipated total value for Microsaic of approximately £200k, predominantly recognised in FY23. The announcement also stated that certain transactions between the companies could constitute related party transactions under AIM Rule 13.
| Date | 13 Sept 2022 |
| Time | 07:25:03 |
| Category | Miscellaneous |
| ID | 2401Z |
Microsaic Systems plc
("Microsaic" or the "Company")
Microsaic to supply mass spectrometry services to DeepVerge
Microsaic Systems plc (AIM: MSYS), is pleased to note the announcement published by DeepVerge Group plc ("DeepVerge") earlier today, regarding its two-year environmental monitoring and remediation project with MèreMer for its Blue Carbon Resilience Flagship project (the "Project"). The full text of the DeepVerge announcement is available here: https://www.londonstockexchange.com/news-article/DVRG/blue-carbon-resilience-project/15625889.
As part of the Project, DeepVerge will appoint Microsaic as its partner to carry out the related mass spectroscopy-based sample analysis. It is expected that the provision of these services will begin in or after October 2022.
Whilst subject to contract, it is currently expected that the total value of goods and services to be provided by Microsaic will be approximately £200k, the significant majority of which will be recognised in FY23 (the next financial year).
Certain transactions between Microsaic and DeepVerge could constitute related party transactions under Rule 13 of the AIM Rules for Companies and as such, further regulatory announcements will be made in due course as appropriate.
Enquiries:
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Microsaic Systems plc |
+44 (0) 734 0055 648 |
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Gerry Brandon, Executive Chairman |
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Singer Capital Markets (Nominated Adviser & Joint Broker) |
+44 (0)20 7496 3000 |
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Aubrey Powell / George Tzimas (Corporate Finance) |
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Turner Pope Investments (TPI) Limited (Joint Broker) Andy Thacker / James Pope |
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About Microsaic Systems
Microsaic has over 20 years' experience in microelectronics and development of instrumentation. The Company has a robust and innovative patent portfolio in cutting-edge technology designed and developed for "Industry 4.0" application serving markets in diversified Industries, Human and Environmental Health. Microsaic's system solutions have enabled analytical detection and characterisation at the point-of-need, whether within a conventional laboratory setting, or within a bioprocessing facility for continuous detection of data at multiple steps in the process workflow.