Acquisition of further interest in Autins

RNS Number : 5892D

Braveheart Investment Group plc

20 October 2022

 

20 October 2022

Braveheart Investment Group plc

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

Acquisition of further interest in Autins Group plc

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased a further 2,300,000 ordinary shares of two pence each in Autins Group plc ("Autins") at an average price of 7 pence per share for a total consideration of £161,000. Upon completion of the transaction, Braveheart will own 12.91 per cent. of the issued share capital of Autins.

In the year ended 30 September 2021, Autins made a loss before tax of £1.18 million on revenue of £23.4 million and as at 31 March 2022 had unaudited net assets of approximately £14.2 million.

Autins, an AIM listed company, specialises in solving acoustic and thermal problems in the automotive industry and other specialist applications. Set up in 1966 as Automotive Insulations, the company became well known within the automotive sector for manufacturing parts for the original Mini.

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

 

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