REG - Acuity RM Group PLC - Result of Placing and Subscription

Acuity RMAnnouncement

17/06/2024 09:45

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RNS Number : 6856S  Acuity RM Group PLC  17 June 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Acuity RM Group plc

("Acuity", the "Company" or the "Group")

Result of Placing and Subscription

Director / PDMR Shareholding

 

 

Acuity (AIM: ACRM), the software group is pleased to announce that further to
its announcement made earlier today (the "Launch Announcement"), the Bookbuild
has now closed and the Company has raised approximately £1 million in
aggregate (before expenses) through the placing of 15,857,143 Placing Shares
and a subscription of 12,714,285 Subscription Shares, each at the Issue Price
(the issue price being 3.5 pence).

The Placing is subject to the conditions set out in the Launch Announcement.

Commenting, Executive Chairman, Angus Forrest said "We are pleased with the
level of support shown from new and existing investors for this next stage of
Acuity's development. As described in more detail below it will fund
activities to build the infrastructure for faster organic growth and
redevelopment of the product to give it more capabilities and connectivity as
well as enabling faster growth and reduced cost of sales."

Use of Proceeds

 

As set out in the Launch Announcement, Following the successful reverse
takeover of ARM in April 2023, the Company is now focusing on accelerating the
growth of ARM by increasing the size of the sales team and increasing their
marketing activities. In addition the Company is seeking to migrate STREAM®
to a web product in order to improve the user experience and take advantage of
modern technologies. The capabilities of STREAM® will be enhanced to:

•      allow it to be used remotely with mobile devices, such as
tablets and smart phones;

•      simplify integrations with other software and data sources;

•      enable artificial intelligence;

•      allow multi-tenant hosting in order to ease management and
control costs; and

•      support continuous update capability and automated testing.

Accordingly, the net proceeds of the Fundraise are set out below:

•      £200k: investment and expansion of the sales team

•      £150k: increase of marketing activities

•      £500k: new product development

•      £90k: contingencies

The Subscription

The Company has been notified of the following subscriptions by directors of
the Company, subject only to Admission:

 Name            Role                Ordinary Shares Subscribed for in the Subscription  Original holding prior to the Placing and Subscription  Total holding  after completion of the Placing and Subscription   Percentage holding of the enlarged share capital after Admission
 Angus Forrest   Executive Chairman  714,285                                             4,711,556                                               5,425,841                                                         3.6%
 Kerry Chambers  Executive Director  571,428                                             674,555                                                 1,245,983                                                         0.8%

 

In addition, Ridgecrest plc subscribed for 11,428,572 Ordinary Shares in the
Subscription.  Nick Clark, an Acuity director, is also a director of
Ridgecrest, he has recused himself from Ridgecrest's process of investing in
Acuity. On Admission, Ridgecrest plc's holding will represent approximately
7.6 per cent. of Acuity's Enlarged Share Capital.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the Placing Shares
and Subscription Shares to be admitted to trading on AIM ("Admission") and it
is expected that such Admission will occur at 8.00 a.m. on 21 June 2024. The
Placing Shares and Subscription Shares will be issued credited as fully paid
and will rank in full for all dividends and other distributions declared, made
or paid after the admission of the Placing Shares and Subscription Shares,
respectively and will otherwise be identical to and rank on Admission pari
passu in all respects with the existing Ordinary shares.

Following Admission of the Placing Shares and Subscription Shares, the Company
will have 150,128,159 Ordinary Shares in issue, of which none are held in
treasury. Accordingly, the total number of voting rights in the Company will
be 50,128,159 and shareholders may use this figure as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.

 

Unless otherwise defined, all capitalised terms used but not defined in this
announcement shall have the meaning as given to them in the Launch
Announcement.

 

 

 For further information please contact:
 Acuity RM Group plc                      https://www.acuityrmgroup.com (https://www.acuityrmgroup.com/)
 Angus Forrest                            +44 (0) 20 3582 0566
 WH Ireland (NOMAD & Broker)              www.whirelandplc.com/capital-markets
 Mike Coe / Sarah Mather                  +44 (0) 20 7220 1666
 Peterhouse Capital (Joint broker)
 Lucy Williams / Duncan Vasey             +44 (0) 20 7469 0936
 Clear Capital (Joint broker)
 Bob Roberts                              +44 (0) 20 3869 6080

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.

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Angus Forrest
 2    Reason for the notification
 a)   Position/status                                              Executive Chairman

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                          Acuity RM Group Plc
 b)   LEI                                                          213800JHJFKALDJA5X97
 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares

      Identification code

                                                                   ISIN: GB00BR0WHY71

 b)   Nature of the transaction                                    Subscription of new shares pursuant to a Fundraise
 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   3.5p        714,285
 d)   Aggregated information

      - Aggregated volume

      - Price                                                      714,285

                                                                   £24,999.98
 e)   Date of the transaction                                       17 June 2024
 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

 

714,285

£24,999.98

e)

Date of the transaction

 17 June 2024

f)

Place of the transaction

Outside a trading venue

 

 

 1    Details of the person discharging managerial responsibilities / person closely
      associated
 a)   Name                                                         Kerry Chambers
 2    Reason for the notification
 a)   Position/status                                              Executive Director

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                          Acuity RM Group Plc
 b)   LEI                                                          213800JHJFKALDJA5X97
 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  Ordinary Shares

      Identification code

                                                                   ISIN: GB00BR0WHY71

 b)   Nature of the transaction                                    Subscription of new shares pursuant to a Fundraise
 c)   Price(s) and volume(s)                                        Price(s)   Volume(s)
                                                                   3.5p        571,428
 d)   Aggregated information

      - Aggregated volume

      - Price                                                      571,428

                                                                   £19,999.98
 e)   Date of the transaction                                       17 June 2024
 f)   Place of the transaction                                     Outside a trading venue

d)

Aggregated information

- Aggregated volume

- Price

 

 

571,428

£19,999.98

e)

Date of the transaction

 17 June 2024

f)

Place of the transaction

Outside a trading venue

 

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