Issue of Equity

RNS Number : 6695O

Braveheart Investment Group plc

11 August 2014

 



11 August 2014

Braveheart Investment Group plc

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

Subscription to raise approximately £130,000

Braveheart Investment Group plc, the AIM-listed investment management group providing financing to SMEs, servicing the investment requirements of business angels, high net worth individuals, family offices and public sector organisations, and directly holding an investment portfolio of early-stage technology companies, announces it has raised, conditional on admission, approximately £130,000 through the issue of 1,185,000 new ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares") to Mr Trevor Brown, a director of the Company, at a subscription price of 11.02p per share (the "Subscription").  

The subscription price of 11.02p per share, which represents a discount of 12% to the closing market price on 8 August 2014, is equal to the volume weighted average share price for the Company for the 60 days to 31 July 2014. The proceeds of the Subscription will be used to fund the Group's general working capital requirements.

Trevor Brown is classified as a related party of the Company for the purposes of the AIM Rules by virtue of him having a substantial shareholding (as defined by the AIM Rules) in the Company and by virtue of him being a Director.  The independent directors for the purposes of the Subscription, being Jeremy Delmar-Morgan, Geoffrey Thomson, Carolyn Smith, Aileen Brown and Ken Brown, consider, having consulted with the Company's Nominated Adviser, Sanlam Securities UK Limited, that the terms of the Subscription are fair and reasonable insofar as Shareholders are concerned. 

Application will be made for the 1,185,000 Ordinary Shares to be admitted to trading on AIM. Admission is expected to become effective and dealings are expected to commence on AIM on 14 August 2014.

Mr Brown is currently beneficially interested in 4,208,555 Ordinary Shares of the Company, representing 16.27% of the current issued share capital.  Following admission of the 1,185,000 new Ordinary Shares, Mr Brown will be beneficially interested in 5,393,555 ordinary shares of the Company, representing 19.94% of the issued share capital.

Following the issue of the shares, the Company will have 27,055,491 Ordinary Shares in issue. Shareholders may use this number as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules. 

Further information:

Braveheart Investment Group plc

Geoffrey Thomson, Chief Executive                                                                       Tel: [phone]

[e-mail]

Sanlam Securities UK Limited (Nominated Advisor and Broker to Braveheart)

Lindsay Mair                                                                                                                      Tel: [phone]

Media Enquiries (Braveheart):

Allerton Communications

Peter Curtain                                                                                                                     Tel: [phone]

[e-mail]

Notes to Editors

Braveheart Investment Group plc

Braveheart provides financing and associated advisory services for small and medium sized enterprises (SMEs) as follows:

For the company looking to raise money, we provide:

·     Equity Capital. This form of financing is typically long term and is usually appropriate for fast growing business or early stage companies. We will consider equity financings where our individual investment, or the investment we arrange, would normally be a maximum or £2m although we are happy to participate in larger financings as part of a syndicate;

·     Debt Finance. Short to medium term and for companies with cash flow to service the loan. Our unit size for this type of finance is up to £1m and we will usually provide junior debt which is unsecured but linked to an equity instrument;

The money we invest comes from a variety of sources (see below) and is sometimes linked to particular geographical locations.

To the investor, we provide a one-stop shop service to those in one of the following groups who are looking for exposure to SME investments:

·     High Net Worth (HNW) individuals looking to build tax efficient Enterprise Investment Scheme (EIS) and Seed EIS portfolios;

·     Family offices and private sector institutions;

·     The Public Sector.

Investors can choose between investment types ranging from self-build portfolios, to a full fund management service.

 

END

 

 

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