30 Mar 2021 07:00
30 March 2021
This is a non-regulatory announcement
Drumz plc
('Drumz' or the 'Company')
Contract win by investee company
Drumz plc (AIM:DRUM) is pleased to announce that, Acuity Risk Management Limited ('Acuity'), in which Drumz has a 20% shareholding with an option to acquire a further 5%, has secured a contract worth a total of £330,000.
The new contract with a non departmental public body of the UK Government is worth £305,000 over three years for software licences and £25,000 in the first year for consulting.
Simon Marvell, CEO of Acuity, said "We are delighted to win this significant contract. It shows the confidence that large organisations have in Acuity and our STREAM™ product as a long term solution for their risk management. Also, it demonstrates the rising value of orders won." www.acuityrm.com
Angus Forrest said "This substantial order is a tribute to the successful implementation of the programmes to develop the STREAM product into an enterprise solution also the development of the marketing and sales programmes. We look forward to announcing further contract wins as Acuity grows its market share."
For further information please contact:
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Drumz Plc | www.drumzplc.com |
Angus Forrest | +44 (0) 20 3582 0566 |
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.