Acquisition of interest in Image Scan Holdings plc

Braveheart Investment Group plc

07 August 2024

 

7 August 2024

Braveheart Investment Group Plc

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

Acquisition of further interest in Image Scan Holdings Plc

Braveheart Investment Group (AIM: BRH), announces an update on recent purchases of shares by Braveheart in one of its portfolio companies, Image Scan Holdings Plc ("Image Scan"). Between 31 March 2024 and 2 August 2024, the Company has purchased a total of 5,500,000 ordinary shares in Image Scan at an average price of 1.74 pence per share for a total cash consideration of £95,550. Following these purchases, Braveheart now holds 8.45% per cent. of the issued share capital of Image Scan.

Image Scan (AIM: IGE) offers a range of portable, rapid deployment and static security solutions to global security sectors, including government and private security organisations. Established in 1996, Image Scan was founded to develop innovative tools and technologies for acquiring and presenting stereoscopic and multi-view x-ray images. In the year ended 30 September 2023, Image Scan made a profit before tax of £96,577 on revenue of approximately £2.96 million and as at 31 March 2024 had net assets of approximately £1.39 million.

The Board of Braveheart continues to seek investment opportunities, both within its existing portfolio and from outside.

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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