Drumz Plc - Directorate Change

7 June 2022

Drumz plc
(‘Drumz”, or the “Company”)

Appointment of Director

Drumz plc (AIM: DRUM) the investing company focused on building value in technology, is pleased to announce the appointment of Nicholas ‘Nick’ Clark as a Non-Executive Director of the Company with immediate effect. 

Nick Clark is the founder and Chief Executive of Torpedo Factory Group Limited (“TFG”). He founded the business in 1997 and has successfully grown it through a combination of acquisitions and organic growth.  TFG is a technology systems integrator, primarily operating in audio visual systems for commercial environments and the provision of technology for the theatre and performing arts sector.  

In addition from February 2019 to March 2022 Nick Clark was Non-executive Chair of Ortana Media Group Ltd (Ortana), which had created a software platform with applications in the broadcast / media industry and more widely.  His appointment at Ortana commenced when TFG became a substantial investor in Ortana.  Ortana was sold to a global media services business in March 2022.

Prior to starting the business Nick Clark studied Physics at Imperial College graduating with a BSc 2(i) followed by an MPhil in Microelectronic Engineering and Semiconductor Physics at the University of Cambridge.

The following information is disclosed in accordance with Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in connection with the appointment of Nick Clark, aged 48, to the Board of the Company:

Nick Clark was a director of HVS Media Limited a company which became insolvent whilst he was a director.  He became a director of HVS Media Limited when the company was acquired in 2007 by TFG for a nominal consideration.  It was placed into administration in 2008.

Nick Clark and his family own 89,360,000 Ordinary Shares of 0.1 pence in the Company, representing 21.3% of the Company’s issued share capital. In addition, Nick Clark and his family hold 10,000,000 warrants to subscribe for the same number of shares at 1.0p per share. TFG, of which Nick Clark is a director and owns more than 30% of its voting share capital, owns 5,000,0000 shares representing 1.19% of the Company’s issued share capital. In addition, TFG owns 5,000,000 warrants to subscribe for the same number of shares at 1.0p per share. 

There are no other matters under paragraph (g) of Schedule 2 of the AIM Rules to be disclosed.

Nick Clark commented “I look forward to contributing to Drumz and assisting with its growth and creation of shareholder value”.

Angus Forrest, Chief Executive of Drumz, said  “We are delighted to strengthen the Board by the appointment of Nick Clark who brings his experience of growing a business from early stage as well as investing in a software business, improving its prospects, and selling it for a substantial return.  The Board looks forward to working with Nick.”  

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.