LONDON (ShareCast) - (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.

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