Acuity RM Group plc Regulatory News (ACRM)

NON-REGULATORY

Acuity RM Group plc

("Acuity" or the "Group")

New product launch

Acuity (AIM: ACRM), the software group, is delighted to announce that its wholly owned operating subsidiary, Acuity Risk Management Limited ('ARML') which supplies the award-winning STREAMâ software platform for the Governance, Risk and Compliance ("GRC") market, together with associated consultancy services, has launched STORM, a counter terrorism risk management report, at a reception held at the House of Commons.

Terrorism is a global and growing issue. The United Kingdom was the third most impacted country in Europe in 2021. This has led to several Government initiatives including Protect Duty, also known as Martyn's Law proposed changes to legislation which was highlighted in the King's Speech in November 2023 for the current parliamentary session. The law will require a range of assessments to be carried out together with appropriate risk management measures. It will impact all large events including sports venues, festivals, theatrical, and tourist attractions expected to attract more than 100 people. 

Protect Duty will require the operator of an event to take various prescribed steps including a general written risk assessment covering its activities, to take steps to cover security risks such as terrorism. This includes a general written assessment covering its activities and specific measures including staff training, co-ordination between various bodies such as stadium staff and the police. Use of STORM covers all the key elements to fully comply with Protect Duty. Failure to comply could result penalties including criminal prosecution and fines for the organisation, its management as well as impacting its insurance.

Kerry Chambers, Chief Executive ARML, commented; "I am proud to launch STORM, our latest innovation in risk management reporting. With the increasing global threat of terrorism, it has never been more important for organisations to proactively manage their security risks and ensure the safety of their stakeholders. STORM addresses this fast emerging market driven by best practice and the proposed Protect Duty legislation. Acuity brings its experience of complex risk management and support the creation of safer, more secure environments for all."

Note to Editors

Acuity RM Group plc

Acuity RM Group plc (AIM: ACRM), is an established provider of risk management services. Its award-winning STREAM® software platform 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.

The Company is focused on delivering long term, sustainable growth in shareholder value. In the short to medium term this is expected to come from organic growth and thereafter may also come from complementary acquisitions.