LifeSafe Holdings PLC AGM Statement (7428D)

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RNS Number : 7428D

LifeSafe Holdings PLC

26 June 2023

 
 For immediate release   26 June 2023

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

AGM statement

At its Annual General Meeting ('AGM') which is being held later this morning, Dominic Berger, Chair of LifeSafe Holdings plc (AIM:LIFS), a fire safety technology business with innovative fire extinguishing fluids and fire safety products, will make the following statement:

"Continuing the strong momentum announced in the Group's previous Trading Updates this year, I am pleased to report that sales growth has continued to exceed the Board's expectations in 2023 with revenue in the first five months to 31 May 2023 of approximately GBP2.5 million, significantly higher than both the same period last year and internal budgets for 2023.

Although forecasts for the year prudently remain unchanged at this stage, the Board is becoming increasingly confident that the current outperformance of sales augurs well for trading in the second half of the year, with the expected benefits of seasonality together with the launch of LifeSafe's new StaySafe All-in-1 fire extinguisher in the North American and European markets."

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Stilwell, Chief Financial Officer of the Company.

For further enquiries:

 
 LifeSafe Holdings plc 
 Dominic Berger, Chairman        info@lifesafetechnologies.com 
 Neil Smith, CEO 
 Mike Stilwell, CFO 
 
 WH Ireland Limited (Nominated       Tel: +44 (0) 20 7220 1666 
  Adviser & Broker) 
 Chris Fielding 
 Darshan Patel

Notes to Editors

LifeSafe is a fire safety technology business that develops eco-friendly, novel and innovative fire extinguishing fluids with a range of life-saving fire safety products. Through its highly experienced management team, LifeSafe is seeking to create new markets for the Group in fire safety through new technologies, digital marketing and multi-channel sales.

LifeSafe has developed what the Directors believe to be a market disrupting range of eco-friendly fire safety protection products including, launched in December 2022, a new Thermal Runaway Fluid to combat thermal runaway in lithium battery fires by permanently extinguishing and preventing the re-ignition of lithium fires. This is an evolution of the Group's core FER1000 extinguishing fluid, for which the Group has been granted a patent in the UK, which has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel.

The Group launched its best-selling first generation StaySafe 5-in-1 fire extinguisher using this fluid on Amazon Prime in the UK in August 2021. It subsequently became Amazon Prime's top-selling fire extinguisher in the UK in the same month. The StaySafe All-in-1, an evolution of the Group's core fluid which is verified to extinguish ten different fire types, was launched in the UK in April 2023. StaySafe products were launched in Screwfix in Spring 2022.

LifeSafe is continuing to develop new fluid derivations for the industrial market.

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L. For additional information please visit https://www.lifesafeholdingsplc.com .

LinkedIn: https://www.linkedin.com/company/lifesafe-technologies

Twitter: https://twitter.com/LifesafeT

- Ends -

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June 26, 2023 02:00 ET (06:00 GMT)

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