| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") | ||||||||||||||||||||||||||||||||||||
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| COMPANY NAME: | ||||||||||||||||||||||||||||||||||||
| Drumz plc (to be renamed Acuity RM Group plc)
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| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : | ||||||||||||||||||||||||||||||||||||
| Registered Office Burnham Yard London End Beaconsfield HP9 2JH
Principal place of business (post Admission to 1 May 2023) 120 New Cavendish Street London W1W 6XX
Principal place of business (from 1 May 2023) 80 Cheapside London EC2V 6EE
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| COUNTRY OF INCORPORATION: | ||||||||||||||||||||||||||||||||||||
| England and Wales
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| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: | ||||||||||||||||||||||||||||||||||||
| www.drumzplc.com (prior to Admission) www.acuityrmgroup.com (post Admission)
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| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: | ||||||||||||||||||||||||||||||||||||
| Drumz is an investing company admitted to trading on AIM with an investment policy focused principally, but not exclusively, on acquiring investments in technology businesses based in Europe.
Drumz currently has two investments, being a 25 per cent. shareholding in Acuity Risk Management ("ARM") and a 5.85 per cent. legacy shareholding in KCR Residential REIT plc ("KCR").
Admission is being sought as Drumz has conditionally agreed terms to acquire the remaining issued shares and to be issued shares in ARM, (a supplier of Governance, Risk, Compliance ("GRC") software and services) which constitutes a reverse take-over under AIM Rule 14.
ARM is an established provider of risk management services. ARM's award-winning STREAM® is a GRC software platform, which collects data about organisations to improve business decisions and management. It is used by around 70 organisations in markets including government, utilities, defence, broadcasting, manufacturing and healthcare. Most customers use it for managing cybersecurity and IT risks and for compliance with ISO 27001 and other standards and regulations. STREAM® is sold on a SaaS or private cloud delivery (on-premise) basis, typically with a three year licence, invoiced annually in advance. Sales are made directly through the Company's own sales team and via a growing network of partners in the UK and the US.
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| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): | ||||||||||||||||||||||||||||||||||||
| Ordinary Shares of 1 penny each comprising:
Numbers above are post a Share Reorganisation No shares held in treasury. No restrictions as to transfer of the securities.
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| CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: | ||||||||||||||||||||||||||||||||||||
| Primary capital to be raised on Admission: £1.45 million
Market capitalisation on Admission: £5.4 million (at the Issue Price)
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| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: | ||||||||||||||||||||||||||||||||||||
| Post Admission 50.9%
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| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: | ||||||||||||||||||||||||||||||||||||
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None | ||||||||||||||||||||||||||||||||||||
| THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N) | ||||||||||||||||||||||||||||||||||||
| N
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| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known): | ||||||||||||||||||||||||||||||||||||
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Directors: · Simon Charles Bennett - Non-Executive Chairman · Angus George Patrick Forrest - Chief Executive · John Nigel Wakefield - Non-Executive Director · Nicholas ("Nick") Clark - Non-Executive Director
Proposed Director: · Simon Keith Marvell -Proposed Executive Director
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| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known): | ||||||||||||||||||||||||||||||||||||
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| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: | ||||||||||||||||||||||||||||||||||||
| N/A
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| (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: | ||||||||||||||||||||||||||||||||||||
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(i) 31 December (ii) 31 March 2022 (iii) Annual report for the year ended 31 December 2022 published by 30 June 2023. Half year report for the six months ended 30 June 2023 published by 30 September 2023. Annual report for the year ended 31 December 2023 published by 30 June 2024.
In addition, the Company intends to report the audited results of Acuity for the year ending 31 March 2023 for its then wholly owned subsidiary, Acuity, by 30 September 2023.
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| EXPECTED ADMISSION DATE: | ||||||||||||||||||||||||||||||||||||
| 25 April 2023
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| NAME AND ADDRESS OF NOMINATED ADVISER: | ||||||||||||||||||||||||||||||||||||
| WH Ireland Limited 24 Martin Lane London EC4R 0DR
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| NAME AND ADDRESS OF BROKER: | ||||||||||||||||||||||||||||||||||||
| WH Ireland Limited 24 Martin Lane London EC4R 0DR
Peterhouse Capital Limited 80 Cheapside London EC2V 6EE
Clear Capital Markets Limited Broadgate Tower 20 Primrose Street London EC2A 2EW
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| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: | ||||||||||||||||||||||||||||||||||||
| The Admission Document, which will contain full details about the applicant and the readmission of its securities, will be available on the Company's website https://drumzplc.com/reports and from the date of the Company's Admission on the Company's new website www.acuityrmgroup.com .
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| THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY | ||||||||||||||||||||||||||||||||||||
| Quoted Companies Alliance Corporate Governance Code | ||||||||||||||||||||||||||||||||||||
| DATE OF NOTIFICATION: | ||||||||||||||||||||||||||||||||||||
| 6 April 2023
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| NEW/ UPDATE: | ||||||||||||||||||||||||||||||||||||
| New
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