Drumz Plc - Update on Investee

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.

5 July 2022

Drumz plc 

('Drumz' or the 'Company')

Update on investee company – Acuity Risk Management 

The directors of Drumz plc are delighted that its investee company, Acuity Risk Management Ltd (“Acuity”), has completed its financial year to 31 March 2022 with a c.30% increase in revenues to £1,552,000.  

In the final quarter of the year there were significant new business wins for Acuity from a major global broadcaster, a leading information provider, and a German software company which operates world-wide.

The first quarter of the current financial year to 31 March 2023 shows strong growth in the value of orders won compared to the first quarter last year.

Gartner Peer Insights, a peer-driven ratings and reviews platform for enterprise IT solutions and services, in June 2022 has rated Acuity’s STREAM a 4.8 out of 5.0 and as one of the top two Cyber Risk products.

In June 2022 G2.com, the world’s largest and most trusted tech marketplace for software, named Acuity (1) a Leader in ‘IT Risk Management Software’, (2) High Performer in ‘Audit Management Software’ and (3) number two for Quality of Support.

Simon Marvell, founder and CEO of Acuity commented: “Acuity is very proud to get this recognition from G2.com”.

Angus Forrest chief executive of Drumz said: “Acuity’s work on new strategies to drive expansion has clearly begun to take effect and there should be a material increase in the rate of growth of revenues in the current year.”