Contract wins by investee company

23 March 2021

This is a non-regulatory announcement

Drumz plc 

('Drumz' or the 'Company')

Contract wins 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 two contracts worth a total of £290,000.

The first is a new contract with an NHS Trust worth £184,000 over three years being a combination of software licences and consulting. The other is the renewal of a software contract with a US insurance company for an additional two years.

Simon Marvell, CEO of Acuity, said "We are proud to announce these contracts, both are important as they show the increasing number and value of the opportunities we are generating and the confidence of organisations in our STREAM product and related services."

Angus Forrest said "These developments begin to demonstrate that the work put in to develop Acuity's STREAM product is driving demand and the revisions to the commercial infrastructure are beginning to deliver higher value contracts."

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.