27th Mar 2024 16:44
(Alliance News) - Roadside Real Estate PLC on Wednesday said that its subsidiary, Cambridge Sleep Sciences Ltd, has received its first purchase order to supply its technology to Mammoth International Ltd.
Roadside is an Abingdon, England-based investor in roadside property and in consumer and life sciences companies, while is a science-based sleep technology business.
Mammoth's order concerns an initial production run of 2,000 Smart Pillows, paying a royalty fee of GBP50 per pillow. Cambridge Sleep Sciences anticipates further revenue of GBP100,000 from Mammoth this year, as the firm has hinted at the possibility of an additional order of 2,000 units.
Further, Cambridge Sleep Sciences has signed a development licence with China's TPV Technologies Ltd to explore ways of integrating its technology into TPV's consumer electronics brands.
It has also made deals with Ultrahuman Healthcare Pvt Ltd and Footfalls Smartex Ltd, both of which wish to integrate SleepEngine into their wearable personal health sensor platform.
Looking ahead, the firm also addressed the possibility of a sale or demerger.
"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," said CSS Chief Executive Officer Julian Stone.
Roadside Real Estate shares closed 9.1% higher at 9.00 pence each in London on Wednesday afternoon.
By Holly Beveridge, Alliance News reporter
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