This announcement contains inside information for the purposes of Article 7 of the
(“Acuity”, or the “Company”)
Annual General Meeting Statement (“AGM”)
At the AGM to be held today
“The Company’s objective since the acquisition of
2023 Report & Accounts have been prepared using acquisition accounting as set out in IFRS 3 and as appropriate for Acuity’s new status as a trading company. In previous years the Company prepared accounts as an investing company.
Businesses are created and built by people. New management and talent were recruited in 2023 and this has continued through the first half of 2024. It takes time for change to take effect and the full benefits to be visible. The main changes have been made with some contribution expected in 2024 and they should be fully effective by mid 2025.
Notable achievements include:
Orders won in H1 2024 -50% increase to £1,017,000 (H1 2023: £677,000)
Orders won in Q2 2024 - 81% increase to £693,000 (Q2 2023: £383,000) with several opportunities postponed until H2 2024 including three potential orders with a total value of £1,422,000.
Sales pipeline at
First order from a US state in
New partners in
Recruitment of:
Finance director in Q4 2023
Chief technical officer Q3 2023
Experienced sales and marketing executives in Q2 2024
A recent development was the launch of a new counter terrorism product, STORM, in
We expect to be able to announce an accelerating rate of order wins and developments in all areas of the business over the next 12 months. In particular we are redeveloping our core product, STREAM, so it incorporates the latest technologies, remains at the forefront of risk management software platforms available in the GRC market and has a suite of improvements built in to maintain its competitive edge.
Fund raise - £1 million was raised in June to invest in the developments outlined above. This should enable faster growth and increased value of orders which in turn should be reflected in improving financial results.”
For further information please contact:Acuity RM Group Plc www.acuityrmgroup.comAngus Forrest +44 (0) 20 3582 0566 WH Ireland (NOMAD & Broker) www.whirelandcb.comMike Coe /Sarah Mather 020 7220 1666Peterhouse Capital Limited (Joint broker)Lucy Williams /Duncan Vasey 020 7469 0936Clear Capital Markets Limited (Joint Broker) 020 3869 6080Bob Roberts
Note to Editors
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.