Acquisition of further interest in Autins Group

Braveheart Investment Group plc

06 March 2024

 

6 March 2024

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

Acquisition of further interest in Autins Group plc

Braveheart Investment Group (AIM: BRH), announces that between 4 March 2024 and 5 March 2024, the Company has purchased a further 4,000,000 ordinary shares in Autins Group plc ("Autins") at an average price of 8 pence per share for a total cash consideration of £320,000. Following these purchases, Braveheart now holds 23.42% per cent. of the issued share capital of Autins.

Autins' shares are admitted to trading on AIM (AIM: AUTG) and the company specialises in solving acoustic and thermal problems in the automotive industry and other specialist applications. The growth of electric vehicle production has created new opportunities for Autins who now supply vehicle producers including: JLR, Nissan, BMW, Aston Martin, Lotus, Lamborghini and Bentley; as well as Tier 1 automotive suppliers: Draxlmaier, Kasai, Treves, Novares, Mergon and Yangfeng. In the year ended 30 September 2023, Autins made a loss before tax of £1.04 million on revenue of approximately £22.7 million with net assets of approximately £10.8 million.

The Board continues to seek investment opportunities, both within its existing portfolio and from outside. The Braveheart Board considers this investment to be a strategic investment and thus an important addition to the Group's portfolio.

For further information:

Braveheart Investment Group plc	Tel: [phone]
Trevor Brown, Chief Executive Officer Viv Hallam, Executive Director
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
James Reeve / George Payne
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Duncan Vasey / Lucy Williams

 

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