Acquisition of further interest in Aukett Swanke

RNS Number : 9111B

Braveheart Investment Group plc

05 October 2022

 

05 October 2022

Braveheart Investment Group Plc

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

Acquisition of further interest in Aukett Swanke Group plc

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased a further 13,728,486 ordinary shares of one pence each in Aukett Swanke Group plc ("ASG") at an average price of 2.416 pence per share for a total consideration of £331,734.36. Upon completion of the transaction, Braveheart will own 19.37 per cent. of the issued share capital of ASG.

ASG is an operating company whose ordinary shares are admitted to trading on AIM (AIM: AUK). In the year ended 30 September 2021, ASG incurred a loss before taxation of £1,531,000 and as at 31 March 2022 had unaudited net assets of £2,631,000.

ASG is a professional services group that principally provides architectural and interior design services in the primary international market sectors of offices, residential, education, industrial, hospitality and mixed use or 'hybrid' developments. It has two principal UK subsidiaries, Aukett Swanke Limited and Veretec Limited as well as a network of offices in Abu Dhabi, Al Ain, Berlin, Dubai, Frankfurt, Istanbul, London,Prague and Moscow .

The Board continues to seek investment opportunities, both within its existing portfolio and from outside. It considers ASG to be a company with medium term growth potential and an investment that fits well in its portfolio of advanced technology businesses.

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] David Worlidge / James Reeve / George Payne Peterhouse Capital Limited (Joint Broker) Tel: [phone] Heena Karani / Lucy Williams

 

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