REG - Roadside Real Estate - CSS announces second purchase order from Mammoth

Roadside Real EstateAnnouncement

05/06/2024 07:00

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RNS Number : 1255R  Roadside Real Estate PLC  05 June 2024

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

 

Roadside Real Estate plc

 

("Roadside" or the "Company")

 

CSS announces second purchase order from Mammoth

 

Roadside (AIM: ROAD) announces that its subsidiary, Cambridge Sleep Sciences,
("CSS") the science-based sleep technology business behind SleepEngine®, has
received its second purchase order from Mammoth International Ltd., ("MIL")
for the provision of its technology in the production of 2,000 Smart Pillows,
paying a royalty fee of £50 per pillow, resulting in a further £100,000 in
revenues.

 

This order forms part of CSS's agreement with MIL to licence SleepEngine®
technology, first announced on 19 September 2023. As previously announced, MIL
has chosen to commence its rollout of CSS's technology with Smart Pillows,
having taken on the exclusive Smart Pillow license CSS agreed with Sleep Sense
International Limited, ("SSI") announced on 6 June 2023.

 

As part of the licence transfer from SSI to MIL, the minimum order quantity is
10,000 units and MIL has not been granted global exclusivity or a 12-month
extension, as CSS continues to explore licencing agreements with additional
manufacturers.

 

The Company will provide a further update at the time if MIL were to
potentially agree to place further Smart Pillow orders and/or its first Smart
Mattresses order. At present, there can be no certainty as to the timing or
quantum of further orders or if they will be placed.

 

CSS's Chief Executive, Dr Julian Stone, said:

"We are pleased to announce a second order from Mammoth and look forward to
continuing to work closely with the business as our technology is rolled-out
into the market.

 

"Our Software-as-a-Service model continues to gain momentum, with a wide
variety of applications to help SleepEngine® users achieve better quality
sleep. We continue to make progress with our licencing activities, identifying
opportunities to deploy our technology."

 

CSS remains in advanced negotiations with several household names on a number
of new multi-year enterprise licensing deals for its SleepEngine® technology.
Further announcements will be made as soon as practicable when these licences
are signed.

 

Update on Ultrahuman development licence

As announced on 27 March 2024, the development licence CSS signed with
Ultrahuman Healthcare Pvt Ltd, ("Ultrahuman") has progressed as anticipated.
CSS is using Ultrahuman's data to explore the creation of personalised
SleepEngine® profiles for users of Ultrahuman's wearable devices as a
precursor to the establishment of a Partnership Agreement.

 

There can be no certainty as to the success of this process, nor as to the
timing or quantum of orders that may result from a successful development
stage or subsequent Partnership Agreement, or if such orders will be placed.

 

New Partnership with Achieveminds Agency

CSS today also announces a new partnership with Achieveminds, S.L.U,
("Achieveminds") the leading esports performance consulting agency. CSS will
collaborate with Achieveminds to explore the effects of enhanced sleep on
athlete performance, recovery and overall wellbeing.

 

Athletes will participate in a trial where they will use a smart pillow
featuring the scientifically developed SleepEngine® technology. Sleep quality
will be tracked and mapped to improvements in key performance metrics
including alertness and reaction times, accuracy, decision making and recovery
times. The trial will be supported by existing partners of CSS, including
Mammoth.

 

Roadside's Executive Chairman, Charles Dickson, said:

"We're delighted with the progress Julian and his team are making with their
business development activities. Each new agreement for - and application of -
SleepEngine® technology demonstrates the business's value to all
stakeholders, including new and prospective shareholders."

 

As previously announced, the Company recently sold 13.6% of CSS's shares to
CGV Ventures 1 Ltd. for £7.5 million and CSS recently secured vital IP rights
that underpin its future prosperity.

 

The Board continues to evaluate the best corporate setting for CSS to maximise
shareholder value from the Company's investment in CSS.

 

There can be no certainty that any de-merger or sale of CSS will ultimately be
made or as to the value of any such possible transaction.

 

- Ends -

 

For more information

 

 Roadside Real Estate plc                                                       c/o Montfort

 Charles Dickson, Executive Chairman

 Cavendish Capital Markets Limited (Nomad and Joint Corporate Broker)           +44 (0)20 7220 0500

 Carl Holmes / Simon Hicks / Fergus Sullivan (Corporate Finance)

 Tim Redfern (ECM)

 Stifel Nicolaus Europe Limited (Financial Adviser and Joint Corporate Broker)   +44 (0)20 7710 7600

 Mark Young

 Jonathan Wilkes-Green

 Catriona Neville

 Montfort

 Olly Scott                                                                     +44 (0)78 1234 5205

 Georgia Colkin

 

About Roadside

Roadside is a real estate business focused on building and scaling a
high-quality portfolio of modern roadside retail assets, including modern EV
charging infrastructure.

 

About Cambridge Sleep Sciences Ltd

Cambridge Sleep Sciences Ltd, is a legacy Life Sciences investment of which
Roadside Real Estate plc holds a 75% interest. CSS develops technology which
improves natural sleep. Using the principles of neuroscience and cutting-edge
technology to enhance brain activity during sleep, its innovative solutions
aim to improve health, wellbeing and enhance quality of life.

 

Its SleepEngine® technology has been developed and refined over a decade by
a team of researchers, scientists, sound engineers and medical experts. This
unique technology produces sounds which emulate the waves created by the brain
during sleep cycles. The sleep sounds guide the user's brain through the
sequence of healthy sleep cycles, helping them fall asleep and achieve the
quality of sleep they need in a consistent and optimal way.

 

Find out more at: www.cambridgesleepsciences.com
(http://www.cambridgesleepsciences.com)

 

 

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