Correction: Result of Placing and Subscription
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The following amendment has been made to the Result of Placing and Subscription, Director / PDMR Shareholding' announcement released on 17 June 2024 at 9.36 under RNS 6856S.
In the paragraph titled 'Admission and Total Voting Rights' there was a typographical error in the second reference to the total voting rights, it should have read 150,128,159.
All other details remain unchanged.
The full amended text is shown below
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 150,128,159 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 |
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 Identification code | Ordinary Shares
ISIN: GB00BR0WHY71
| ||||
b) | Nature of the transaction | Subscription of new shares pursuant to a Fundraise | ||||
c) | Price(s) and volume(s) |
| ||||
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 Identification code | Ordinary Shares
ISIN: GB00BR0WHY71
| ||||
b) | Nature of the transaction | Subscription of new shares pursuant to a Fundraise | ||||
c) | Price(s) and volume(s) |
| ||||
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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