This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Drumz plc
(‘Drumz’ or the ‘Company’)
Investment
Further to the change of investing policy approved by shareholders on 30 June 2020, the directors of Drumz (DRUM.L) are pleased to announce that the Company has made its first technology investment in Acuity Risk Management Ltd, (‘Acuity’), which operates an award winning software business specialising in risk management.
Acuity’s business is the supply of its proprietary software, STREAM™, and services for cyber security and risk management, used by organisations globally for customers ISO 27001, GDPR, NIST Cyber Security Framework and other programs.
Drumz has invested £500,000 in cash for an initial 20 per cent. shareholding, in Acuity with an option to acquire an additional 5 per cent. for a further £125,000. As a condition of the transaction, Angus Forrest will become a director of Acuity.
The Acuity business was founded in 2005 by a team who had previously built a consultancy specialising in cyber security which was later acquired by Siemens. They encapsulated their knowledge in developing the STREAM™ software which was launched in 2007. This software enables a risk-based approach to cyber security, reducing the risk of security breaches, optimising cyber security activities and, in the event of a breach, mitigating damage through a strategic risk-based approach.
Acuity’s customers include government organisations, large and medium sized private enterprises in the UK, Europe, Africa and North America. Gartner reports the global market for Integrated Risk Management (‘IRM’) in 2020 to be $7.3 billion with projected growth to $9.3 billion by 2023. This is being driven by the development of new digital products and services designed to propel a company’s future growth. In turn this introduces new risks that require IRM technology.
Acuity regularly wins awards including in Information Age and TechWorld’s top cyber security companies in the UK supplying cybersecurity services to organisations globally. STREAM™ has been awarded a five star rating in the SC Media GRC, Risk and Policy Management Review for five consecutive years. In 2018, STREAM™ was Continuity, Insurance and Risk magazine’s cyber security product of the year.
The last published accounts for the Acuity business were issued by Acuity RM LLP for the 12 months to 31 March 2019 show that the business generated a profit before tax of £226,000 on revenues of £858,000. The net assets of Acuity RM LLP as at 31 March 2019 were £11,000. Acuity RM LLP transferred its business to Acuity earlier in 2020.
More information on Acuity can be found via the following link www.acuityrm.com
Angus Forrest, Chief Executive of Drumz, commented:
“We are delighted to have made this first investment in Acuity. Acuity is an established and well regarded player in the fast growing cybersecurity global market. With the additional expertise Drumz can bring to its investment we are confident that Acuity’s growth over the past year, will be accelerated over the next two to three years to transform its value.”
For further information please contact:
Drumz Plc
Angus Forrest
+44 (0) 20 3582 0566
WH Ireland (NOMAD & Broker)
www.whirelandcb.com
Mike Coe / Chris Savidge
020 7220 1666
Peterhouse Capital Limited (Joint broker)
Lucy Williams / Duncan Vasey
020 7469 0936
Note to Editors
Drumz plc
Drumz plc (AIM): DRUM) is an investing company focused on investing in and acquiring established software businesses that own good technology, have quality customers and which could better exploit their assets and accelerate their growth with the injection of experienced management and new funds.
Drumz will, where necessary, make available some of its experienced management team and provide finance to facilitate the necessary changes, so that the value of the businesses in which Drumz invests will be transformed over a two to four year period. In due course, the new Directors expect to dispose of such businesses, in whole or in part, in order to realise value for Drumz and its shareholders.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
