Completion of Acquisition

RNS Number : 9057T

Braveheart Investment Group plc

06 October 2010

 



6 October 2010

BRAVEHEART INVESTMENT GROUP plc

('Braveheart' or 'the Group')

Acquisition of Envestors Ltd ('Envestors')

Braveheart (AIM: BRH), the investment management and technology commercialisation company, announces that it has completed the acquisition of Envestors Ltd, the London-based specialist corporate finance advisory business.

The terms of the transaction are as fully detailed in the Group's announcement of 18 August 2010, including an Initial Consideration of £150,000 which has been satisfied by the allotment of 442,870 Braveheart shares issued on completion. Application has been made for admission to trading on AIM of the Initial Consideration shares which is expected to be effective on 11 October 2010.

Completion followed receipt of approval of the Financial Services Authority and the satisfaction of a number of completion formalities including the transfer of the Envestors business from Envestors LLP into a newly incorporated limited company, Envestors Ltd, currently in the process of changing its name from Envestors London Ltd.

The Group's London office will now be at 1 Lancaster Place, WC2E 7ED, which is also the trading address of Envestors.

For further information please visit www.braveheartinvestmentgroup.co.uk and www.envestors.co.uk or contact:

 

Braveheart Investment Group	Envestors
Geoffrey Thomson, Chief Executive	Oliver Woolley, Managing Director
Tel: [phone]	Tel: [phone]
[e-mail]	[e-mail]
Tavistock Communications (for Braveheart)	Seymour Pierce Limited (Nominated Adviser to Braveheart)
Simon Hudson / James Midmer	John Cowie (Nominated Advisor)
	Jeremy Stephenson (Broker)
Tel: [phone]	Tel: [phone]
[e-mail]

 

Notes to Editors

Braveheart

Braveheart Investment Group is an investment management and technology commercialisation and company headquartered in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fourteen years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.

Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with a number of leading universities and innovation centres Braveheart has access to a wide variety of emerging commercial opportunities at early stages. There are currently around 45 companies in Braveheart's diverse portfolio (includes all companies where the Group has a financial interest) and it has completed over 90 deals in its 14 year history.

Envestors

Established in 2004, Envestors LLP, which  is authorised and regulated by the Financial Services Authority, comprises Envestors Private Investor Club, a network of 700+ private individuals and family offices looking to invest between £20,000 and £5m in high-growth businesses, and Envestors Corporate Finance, which acts for companies seeking finance of up to £20m and ensures businesses are fully investment ready before marketing proposals to investment funds, VCTs and banks, as well as our investor base.  We review over 100 business proposals a month, of which we select 2-3 to present to our investors. We have offices in London, Manchester, Jersey and Dubai and in 2009 we won "Private Investor Network of the Year" at Investor Allstars

 

END

 

 

ACQEELFBBBFLFBK