Update on investment

Reach - This is a non-regulatory announcement

24 February 2021

Drumz plc 

('Drumz' or the 'Company')

Update on Investment

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 launched a significant upgrade to its STREAM™ Integrated Risk Manager ("IRM") software product which is used by private and public sector clients to manage their cyber security and other Enterprise risks.

Acuity's STREAM™ Cyber Risk Platform ranks highly against competitor solutions for IT Risk Management with a 5-star rating in Gartner's 2021 Peer Insights review of recent software buyers. https://www.gartner.com/reviews/market/it-risk-management-solutions/vendor/acuity-risk-management/product/stream-cyber-risk-platform/alternatives

The value of a good rating by Gartner Peer Insights and other leading market research organisations is that it drives more sales opportunities to the company, and gives credibility to the product which strengthens the sales pathway. It also raises the profile of a company generally and interest in Acuity has increased significantly over the past six months.

Sales and marketing activities have been strengthened over the past 12 months, marketing through the use of a specialist digital marketing agency to create qualified sales opportunities which are further refined by other related activities such as webinars, exhibitions and the new website which has increased activity since it was launched last month. Over the year the number of leads in the sales pipeline has increased significantly as has the value per opportunity and the total has risen fivefold. The sales team now comprises three new business and one account manager compared to one salesman in December 2019.

A new Commercial Director has been recruited and will start in April.

The progress made demonstrates the efficacy of Drumz' strategy of delivering expertise combined with finance to fund the changes necessary to drive expansion and value enhancement.

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.