Special Dividend

RNS Number : 3479H

Braveheart Investment Group plc

03 December 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

3 December 2020

Braveheart Investment Group plc

("Braveheart" or the "Company")

Special Dividend

In the interim results for the six months ended 30 September 2020, the board of Braveheart (the "Board") announced that it had declared the payment of a special interim dividend of 42.75 pence per Ordinary Share (the "Special Dividend") which with the current issued share capital of the Company being 36,252,748 equates to a total dividend of approximately £15.5 million.

As at 30 November 2020, the Company and its subsidiaries (the "Group") had net cash reserves of approximately £18.15 million. The Board has assessed the Group's ongoing working capital and investment cash requirements under a range of forecast scenarios and has concluded that a substantial portion of these cash reserves is surplus to the Group's requirements. The Board has, therefore, decided to return such surplus capital to Braveheart shareholders by way of the Special Dividend.

The Company intends to pay the Special Dividend on 6 January 2021 to Braveheart shareholders on the register on 11 December 2020. The Ordinary Shares will be marked ex dividend on 10 December 2020. The Special Dividend will be funded from the Company's existing cash balances.

The Company will be filing at Companies House interim accounts for the period ending 30 November 2020 in accordance with the Companies Act 2006 requirements.

For further information:

Braveheart Investment Group plc Tel: [phone] Trevor Brown, Chief Executive Officer Allenby Capital Limited (Nominated Adviser and Joint Broker) Tel: [phone] David Worlidge / James Hornigold Peterhouse Capital Limited (Joint Broker) Tel: [phone] Heena Karani / Lucy Williams

 

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