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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mid-States | LSE:MST | London | Ordinary Share | GB0002683034 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.625 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMST RNS Number : 5776P Mid-States PLC 20 July 2010 MID-STATES PLC (the "Company") Trading Update Mid-States PLC, a leading environmental technology group, is pleased to announce its trading update for the financial year ended, 30 June 2010. In June 2010, the Company raised GBP3.8 million (net of expenses) through a share placing, to support its strategy for realising the commercial potential of its flagship Air Disinfection product, known as 'the AD'. Developed from a concept identified by a British Government research facility, the AD provides a unique solution for cleansing the air of harmful bacteria and viruses. The commercial potential for creating clean air in enclosed spaces such as hospitals, care homes, offices, dental surgeries and ambulances, is believed to be substantial. During the year, the Company has been focused on the roll-out of the AD through developing a network of global distributors, whilst also adapting the AD for a variety of commercial uses: · The Company currently works with key distributors, in the UK, Spain, the Middle East and India, and is in discussions with a number of potential new distributors in order to penetrate different market segments across multiple countries. As part of this process the Company received an increasing level of orders from distributors during the year, with 885 ADs ordered in the second half, a 30% increase on the first half, giving a total of 1,564 ADs for the year. · The AD has the potential to be sold into a number of market segments, and the Company continues to develop variants of the AD, including a miniature version specifically designed for the retail market. Total revenue for the year ended 30 June 2010 is expected to be GBP0.3 million (2009: GBP0.3 million) with a year-end order book in excess of 400 ADs, which will be recognised as revenue in Q1 2011. The Company looks forward to announcing its full year results in October 2010. Javier Segura, Managing Director of Mid-States PLC, commented: "We were delighted with the support from institutional and private investors for our strategy for the commercial roll-out of the AD, which led to the successful fundraising in June 2010. We already have a small number of successful distributors of the AD, and we are focused on expanding the pool of distributors across multiple countries and segments." For further information: Mid-States PLC Tel: +44 (0) 20 7603 1515 Andrew Tonks, Finance Director Panmure Gordon (UK) Limited Tel: +44 (0) 20 7459 3600 Andrew Godber Cardew Group Tel: +44 (0) 20 7930 0777 Tim Robertson / Catherine Maitland This information is provided by RNS The company news service from the London Stock Exchange END TSTUKOVRRNABAAR
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