REG - Roadside Real Estate - CSS receives first PO & progresses three licences

Roadside Real EstateAnnouncement

27/03/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240327:nRSa4228Ia&default-theme=true

RNS Number : 4228I  Roadside Real Estate PLC  27 March 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")

 

 

Cambridge Sleep Sciences receives first purchase order and progresses three
licencing deals

 

 

Roadside (AIM: ROAD) announces that its subsidiary, Cambridge Sleep Sciences,
("CSS") the science-based sleep technology business behind SleepEngine®, has
received its first purchase order to supply its technology to Mammoth
International Ltd. ("MIL"), following CSS's licencing deal with MIL, announced
on 19 September 2023, which focused on licencing SleepEngine® technology for
use in Smart Mattresses.

 

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. SSI intends to
purchase Smart Pillow units from MIL. As part of the licence transfer from SSI
to MIL, the minimum order quantity has reduced from 25,000 units to 10,000
units and MIL has not been granted global exclusivity or a 12-month extension,
as CSS is exploring licencing agreements with additional manufacturers.

 

MIL's order concerns an initial production run of 2,000 Smart Pillows, paying
a royalty fee of £50 per pillow. CSS anticipates further revenues of
£100,000 from MIL in 2024 which has indicated the possibility of an order for
an additional 2,000 units, giving confidence of further upside throughout the
year. 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 has also signed a development licence with China's TPV Technologies
Limited, ("TPV") to explore ways of integrating its technology into TPV's
consumer electronics brands, which include Philips, Agon and Great Wall
Technology Company, (one of the leading television brands in China).

 

In addition, CSS has signed development licenses with Ultrahuman Healthcare
Pvt Ltd and Footfalls Smartex Ltd., both of whom wish to integrate
SleepEngine® into their wearable personal health sensor platforms.

 

Dr Julian Stone, CEO of CSS, said:

"We are delighted to see the first orders in our relationship with Mammoth and
are excited by those opportunities that could follow a successful development
phase with TPV. I believe we will continue to make progress with our licencing
business in 2024, enabling us to deploy our technology into a variety of
settings, all with the aim of helping people achieve better quality sleep."

 

Further to the Company's announcement on 11 September 2023, CSS remains in
advanced negotiations with several other household names on several new
multi-year enterprise licensing deals for its SleepEngine® technology.
Further announcements will be made as soon as practicable when these licences
are signed though at this time there can be no certainty that they will be
signed or as to the timing.

 

SleepEngine® technology has been developed and refined over more than a
decade by a team of researchers, scientists, sound and medical experts. The
result is an audio solution that helps to retrain the brain to restore healthy
natural sleep patterns, a key component for mental, physical, and cognitive
wellbeing. SleepEngine® technology offers a unique integration opportunity
with existing or new third-party products capable of delivering high quality
audio.

 

As previously announced, the Board continues to evaluate the best corporate
setting to maximise shareholder value from its 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)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PFUEAADKAAALEAA