MST Mid-States

 

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 
 
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