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I agree skid35

Can Angus survive this as Chair? I don't think he should.

I posted here on 11 March that I wasn't impressed by his contribution to the presentation and wondering if he is the very best Chairman the company could have. It is now very clear (to me) that he not and, as Swanny27 has already posted, it is time for him to go.

Oh dear

https://www.londonstockexchange.com/news-article/ACRM/issue-of-equity/17042058

"The Company is seeking to raise net proceeds of approximately £0.46 million through the Placing, Subscription and Directors’ Intended Subscription, which will be applied approximately as follows:

£90k: sales and marketing£200k: new product developments£170k: working capital purposes"

I appreciate that, but even so, it would surely do more harm than good to acuity if it emerged that it was a supplier to an organisation that had been so seriously affected by a cyber security issue, wouldn't it?

On the flip side of headline cyber attacks being a business opportunity and in the absence of any news from the company, minds can wander in all directions.

What if one of the recently affected retailers is already a customer and still got hacked?

If you know that is not the case, do put my mind at rest please.

Marks and Spencer being hit by a cyber attack that has caused disruption for at least a week, including the pausing of orders on its website and app yesterday, could be a cloud with a silver lining for acuity.

https://www.bbc.co.uk/news/articles/cdxnkg7rln2o

Surely any retailers that are anywhere in acuity's sales funnel are closer to buying than they were just a week ago?

The market has not forgotten 1) that the Chairman said the company would knock it out of the park and then, when it did not, denied having said that it would 2) the "emergency" £1m fundraise back in June 2024.

It needs to become profitable and cash generative, and to establish a track record of doing what it says it will do.

Based on what the CEO has said so far, that means securing Leonardo as a partner and winning new business that proves the tiered go to market approach works, doesn't it?

I hope it can.

I like the CEO's approach. It has structure and he believes in it. I also like that he has taken on the partner management personally. I think Acuity has a great product in STREAM and I am optimistic that it will start to deliver this calendar year. That said, I don't rule anything out. There are a lot of things that need to go right and a lot of things that could go wrong. I am and would rather be a shareholder than not on this one.

I am not impressed by Angus' contribution to the presentation. Thinking back to his contributions over the last year or so, I am wondering if he is the very best Chairman the company could have?

A chance to hear the new CEO and put questions to him and the Chairman

11 March 2025 at 1100 GMT

https://otp.tools.investis.com/clients/uk/drumz_plc/rns/regulatory-story.aspx?cid=199&newsid=1914977

Good to see the Chairman adding to his holdings and the CEO putting some money on the table too

https://otp.tools.investis.com/clients/uk/drumz_plc/rns/regulatory-story.aspx?cid=199&newsid=1909712

The CEO now has share options

2,251,922 exercisable at 3.75p per share if the share price hits and maintains 7.5p for five consecutive trading days.

I hope they make him very, very rich.

Maybe the cash position will turn out slightly better - surely there is credit / refund due from any advisor that did sign off on the initial statement? Every little helps.

Overall I am much more confident in Rajakovich than I was in Chambers.

It is still very early days for him, but it is reasonable to expect him to improve the transparency and detail of reporting quickly imo.

The corrected version was published 5 Feb at 0859.

Good to see.

I still don't like the line "At 31 December 2024 total cash together with cash receipts from debtors expected in January 2025 amounted to £1.3m. (2023 £1.3m)"

I would have preferred to see the actual cash balance at close of business 31 Dec 2024, rather than have the waters muddied by mentioning money that was due the following month.

£100k on 31 Dec with £1.2m due in January is very different to £1.2m on 31 Dec with £100k due in January.

I had expected a corrected version of the Trading Statement issued 4 Feb 2025 to have been published before now.

Leaving a factually incorrect statement like that on the official record is not OK, is it?

There is a trading statement out today

https://otp.tools.investis.com/clients/uk/drumz_plc/rns/regulatory-story.aspx?cid=199&newsid=1906451

Not sure what happened to the proof reader, but there appears to be a sloppy mistake in the second bullet point (should surely say January 2025). Also, if a statement is released 4 Feb, then surely the cash receipts for January would already be known?

3.99% to 4.29% 15 Jan 25

https://otp.tools.investis.com/clients/uk/drumz_plc/rns/regulatory-story.aspx?cid=199&newsid=1902028

Confirmation Statement filed 10 Jan 2025. Good.

I had hoped something like this could not happen again (you may recall the plc accounts were filed late on 15 July 2024, having been due by 30 30 June 2024), but Acuity Risk Management Ltd is late filing its confirmation statement. It was due 31 Dec 2024

Not the end of the world, but the requirement to file these does not spring up randomly and it is reasonable to expect that a listed plc is administratively competent enough to deal with such routine things in a timely manner, isn't it?

https://find-and-update.company-information.service.gov.uk/company/12369714

So Kerry Chambers has been pushed out, replaced with David Rajakovich as CEO.

As someone who has been underwhelmed by Kerry's take on the role of CEO of a listed plc I think this could be a very positive move.

Https://otp.tools.investis.com/clients/uk/drumz_plc/rns/regulatory-story.aspx?cid=199&newsid=1887981

New customer in new sector. £250k over 5 years for STREAM

Good stuff