Business
Result of Placing and Subscription
Result of Placing and Subscription.
About this update from Acuity Rm Group Plc
[{"type":"text","content":"\n\nTHE 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.\n \nAcuity RM Group plc\n(\"Acuity\", the \"Company\" or the \"Group\")\nResult of Placing and Subscription\nDirector / PDMR Shareholding\n \n \nAcuity (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).\nThe Placing is subject to the conditions set out in the Launch Announcement.\nCommenting, 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.\"\nUse of Proceeds\n \nAs 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:\n• allow it to be used remotely with mobile devices, such as tablets and smart phones;\n• simplify integrations with other software and data sources;\n• enable artificial intelligence;\n• allow multi-tenant hosting in order to ease management and contro...