PKF supports acquisition and re-admission to AIM
We are delighted to have supported Drumz plc on their acquisition of Acuity Risk Management Limited (“Acuity”). Drumz plc was an investing company with a policy of investing principally but not exclusively in the technology sector within Europe. The acquisition of Acuity was classified as a Reverse Take-Over so on Re-Admission Drumz plc has become a trading company.
Drumz plc (to be renamed Acuity RM Group plc) has raised gross proceeds of £1.45 million, through a placing of 32,222,222 ordinary shares at 4.5 pence per share, giving a market capitalisation of approximately £5.4 million on admission.
“Acuity is set for fast expansion in large global market, Governance, Risk, Compliance (GRC) where its software platform STREAM®️ is well regarded by users and analysts such as Gartner and G2.com.
Most users of STREAM®️ use it to manage their cybersecurity and IT risks, although it can be configured to manage a wide range of risks. We already have a presence in major markets and plan to increase the rate of expansion through a partnership programme, which should be further assisted by our profile as a public company. The scale of the market opportunity for STREAM®️ resulted in the decision for Drumz to acquire Acuity and change its name to Acuity RM Group plc.
The team at PKF were helpful in guiding us during the intensive work necessary to prepare the detailed financials throughout the Reverse Take-Over process. We would like to thank the whole team and look forward to working with PKF in the future as we grow.”
Angus Forrest, Chief Executive Director | Drumz plc
PKF acted as reporting accountant on the transaction and the Capital Markets team included Joseph Baulf, Mark Ling and Ben Pringle.
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