No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Acuity RM announced the sale of its entire shareholding in KCR Residential REIT on Monday, saying it would reinvest the proceeds into its core cyber-security risk management business.
The AIM-traded software group said the KCR stake had been valued at 280,107 in its 30 June interim accounts but was sold at 6.75p per share, a 6.25% discount to the prevailing bid price, generating gross proceeds of 164,410.
It said the disposal marked the exit of a legacy real estate investment and would allow it to direct all capital and management attention toward developing its 'Stream' cyber-security risk management platform and associated consultancy services.
Acuity added that the funds would be channelled into product development and business growth within Acuity Risk Management.
"We've divested a legacy real estate holding to fully concentrate resources on our core business: building and scaling best-in-class risk management software," said chief executive David Rajakovich.
"This sharpens our strategic focus and accelerates our path to becoming the definitive platform in our sector."
He added that recent high-profile cyber attacks had "dramatically accelerated market awareness", validating the company's strategy, and said Acuity was now "leveraging this momentum and our domain expertise to expand our product portfolio" with new solutions aimed at emerging threats and compliance demands.
At 1526 GMT, shares in Acuity RM Group were down 4.47% at 0.91p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.