PKF assists Drumz on acquisition

PKF has announced that it has assisted Drumz with its acquisition of Acuity Risk Management Limited.

Drumz plc was an investing company with a policy of investing principally but not exclusively in the technology sector within Europe.

The acquisition of Acuity was classified as a Reverse Take-Over so on Readmission Drumz plc has become a trading company.

PKF acted as reporting accountant on the transaction and the Capital Markets team included Joseph Baulf, Mark Ling and Ben Pringle.

Drumz, to be renamed Acuity RM Group plc, has raised gross proceeds of £1.45m, through a placing of 32,222,222 ordinary shares at 4.5p per share, giving a market cap of approximately £5.4m on admission.

Angus Forrest, chief executive director Drumz, said: “The team at PKF were helpful in guiding us during the intensive work necessary to prepare the detailed financials throughout the Reverse Take-Over process. We would like to thank the whole team and look forward to working with PKF in the future as we grow.”