REG - Microsaic Systems - Supply of mass spectroscopy services to DeepVerge

Microsaic SystemsAnnouncement

13/09/2022 07:30

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RNS Number : 2401Z  Microsaic Systems plc  13 September 2022

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
(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:

 Microsaic Systems plc                                          +44 (0) 734 0055 648
 Gerry Brandon, Executive Chairman

 Singer Capital Markets (Nominated Adviser & Joint Broker)      +44 (0)20 7496 3000
 Aubrey Powell / George Tzimas (Corporate Finance)

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

 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.

 

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