Fund Management Division Update

RNS Number : 3113K

Braveheart Investment Group plc

13 December 2018

 

13 December 2018

Braveheart Investment Group plc

("Braveheart" or the "Company")

Fund Management Division Update

Braveheart Investment Group plc (AIM:BRH) ("the Company"), the fund management and strategic  investor group, is pleased to provide an update regarding it's fund management business. 

The Board has recently been approached by a number of third parties, each of whom have expressed an interest in either purchasing outright our fund management business or entering into some form of a joint ownership arrangement.  All of these discussions are at an early stage, and there can be no certainty that they will proceed to a transaction being completed.  It is unclear at this stage what form of transaction, if any, will be agreed upon.  We will pursue all these discussions and provide further updates as and when appropriate.

In the interim results for the six months ended 30 September 2018, which were announced on 30 October 2018, it was stated that the Company planned to launch of a new mezzanine fund, the Viking Mezzanine Fund, during the first quarter of the 2019 calendar year. It was intended that the Viking Mezzanine Fund was to be launched with a large UK financial organisation providing 40% of the total fund.  However, by mutual agreement, it has been decided that the launch will not now proceed.  The Board remains of the view that there is sufficient appetite to launch a mezzanine fund in the future but has decided to suspend further development on this project pending an outcome of the various approaches referred to above.

For further information:

Braveheart Investment Group plc Viv Hallam, Executive Director	Tel: [phone]
Allenby Capital Limited (Nominated Adviser and Joint Broker) David Worlidge / Nicholas Chambers	Tel: [phone]
Peterhouse Capital Limited (Joint Broker) Heena Karani / Lucy Williams	Tel: [phone]

 

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