REG - Microsaic Systems - Completion of Acquisition

Microsaic SystemsAnnouncement

25/01/2024 07:00

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RNS Number : 8360A  Microsaic Systems plc  25 January 2024

25 January 2024

Microsaic Systems plc

("Microsaic" or the "Company")

 

Completion of Acquisition

 

Capitalised terms in this announcement carry the same meaning as in the
Circular

or subsequent announcements, unless the context indicates otherwise

 

Microsaic Systems plc (AIM: MSYS), the developer of micro-electronic
instruments and analytical solutions, announces that, further to the
announcement made by the Company on 12 January 2024 (RNS No. 5915Z)(1), it has
completed the acquisition of the Modern Water assets and the Microtox® water
testing business previously owned by DeepVerge plc.

 

Bob Moore, Acting Executive Chairman, commented:

 

"This concludes our recent corporate activity to recapitalise Microsaic on an
enlarged basis by integrating the Modern Water Microtox® water testing
business. We are now in the process of installing the acquired equipment in
newly leased and lower cost laboratory space in York, England. We intend to
restart sales and manufacture of water testing reagents as soon as reasonably
practicable, to meet continuing demand from the installed base of Microtox®
users.

 

Additionally, we remain focused on supplying and servicing to customers
operating Microsaic's mass spectrometry units, through our existing outsourced
manufacturing partner and a newly appointed outsourced servicing partner. We
are committed to supporting existing clients and prospective distribution
partners in assessing the ProteinID and PFAS(2) units ahead of planned field
trials expected in H1 2024, designed to assess their performance in monitoring
biomanufacturing of drugs and the detection of 'forever chemicals'."

 

 

(1           )
(https://www.londonstockexchange.com/news-article/MSYS/acquisition-update-change-of-registered-office/16287737
(https://www.londonstockexchange.com/news-article/MSYS/acquisition-update-change-of-registered-office/16287737)
)

( )(2          ) PFAS are Perfluoroalkl and Polyfluoroalkyl
synthetic chemicals which have potentially carcinogenic properties and don't
naturally break down hence called 'forever chemicals'.

 

Enquiries:

 Microsaic Systems plc                            +44 (0) 20 3657 0050

 Bob Moore, Acting Executive Chairman             via TPI

 Singer Capital Markets                           +44 (0)20 7496 3000

(Nominated Adviser & Joint Broker)

 Aubrey Powell / Angus Campbell / Oliver Platts

 Turner Pope Investments (TPI) Limited            +44 (0) 20 3657 0050

(Joint Broker)

 Andy Thacker / James Pope

 

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.

 

Microsaic's products and solutions are commercially available through global
markets via a network of regional and local partners, targeting its core
laboratory, manufacturing and point-of-need applications.

 

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