TIDMBRH
RNS Number : 8406Z
Braveheart Investment Group plc
20 September 2022
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
20 September 2022
Braveheart Investment Group Plc
("Braveheart", the "Company" or the "Group")
Placing and subscription to raise GBP750,000
Braveheart Investment Group (AIM: BRH), announces that the
Company has raised GBP750,000 (before expenses) by way of a placing
of and subscription for new ordinary shares of 2p each ("Ordinary
Shares") in the Company (together, the "Fundraise"), at an issue
price of 10.25p pence per share (the "Issue Price").
The Company has issued 1,951,220 new Ordinary Shares ("Placing
Shares") at the Issue Price pursuant to a placing, raising gross
proceeds of GBP200,000.05 before expenses (the "Placing"). The
Placing has been arranged by Peterhouse Capital Limited.
In addition, the Company has entered into a direct subscription
with Trevor Brown, Chief Executive Officer, for a total of
5,365,853 new Ordinary Shares (the "Subscription Shares"), raising
a total of GBP550,000 (the "Subscription"). Trevor Brown has
undertaken to the Company that he will not dispose of any of the
Subscription Shares for a period of one year from the date of
admission to trading on the AIM market of the Subscription Shares,
without the prior written consent of the Company and the Company's
Nomad.
A total of 7,317,073 new Ordinary Shares (together the
"Fundraise Shares") are to be issued at the Issue Price. The
Fundraise has been conducted utilising the Company's existing share
authorities granted at the Annual General Meeting of the Company
held on 13 July 2022. The Fundraise is conditional, inter alia, on
admission of the Fundraise Shares to trading on AIM ("Admission")
becoming effective.
The Fundraise has been undertaken by the Company to enable it to
be in sufficient funds to be able to support its current investee
companies from a position of strength should the need arise for
further funds and to be able to make opportunistic new
investments.
Director's holding
Trevor Brown's total beneficial interest following this
transaction will be 12,429,424 Ordinary Shares, representing
approximately 19.51% of the voting rights in the Company's enlarged
share capital following the issue of the Subscription Shares. The
FCA notification, made in accordance with the requirements of the
UK Market Abuse Regulation, is appended below.
Related Party Transaction
The subscriber for the Subscription Shares is Trevor Brown, who
is the CEO and a Director of Braveheart and, therefore, the
transaction is treated as a related party transaction under the AIM
rules. The independent directors, being Qu Li, Susan Hagan and
Vivian Hallam, consider, having consulted with Allenby Capital
Limited, the Company's Nominated Adviser, that the terms of the
Subscription and the issue of the Subscription Shares are fair and
reasonable insofar as the shareholders of Braveheart are
concerned.
Admission of the Fundraise Shares
Application has been made for the 7,317,073 Fundraise Shares to
be admitted to trading on AIM ("Admission"), which is expected to
take place on or around 26 September 2022. Once issued, the
Fundraise Shares will rank pari passu in all respects with the
existing Ordinary Shares of the Company.
Total Voting Rights
Following Admission, the Company's issued ordinary share capital
will consist of 63,723,489 Ordinary Shares, all of which carry one
voting right per share. The Company does not hold any Ordinary
Shares in treasury. Therefore, the total number of Ordinary Shares
and voting rights in the Company will be 63,723,489. With effect
from Admission, this figure may be used by shareholders 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 Guidance and
Transparency Rules.
For further information:
Braveheart Investment Group plc Tel: 01738
587555
Trevor Brown, Chief Executive Officer
Viv Hallam, Executive Director
Allenby Capital Limited (Nominated Adviser Tel: 020 3328
and Joint Broker) 5656
David Worlidge / James Reeve / George
Payne
Peterhouse Capital Limited (Joint Broker) Tel: 020 7469
0936
Heena Karani / Lucy Williams
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
Details of the person discharging managerial responsibilities
1 / person closely associated
------------------------------------------------------------------------------
a) Name Trevor Brown
-------------------------------------- --------------------------------------
Reason for the notification
2
------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
-------------------------------------- --------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------------------- --------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
a) Name Braveheart Investment Group plc
-------------------------------------- --------------------------------------
b) LEI 2138006HQ3COMU626I61
-------------------------------------- --------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------
a) Description of the Ordinary shares of 2 pence each
financial instrument, in Braveheart Investment Group plc
type of instrument
Identification code GB00B13XV322
-------------------------------------- --------------------------------------
b) Nature of the transactions issue of new Ordinary Shares
-------------------------------------- --------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
10.25p 5,365,853
-------------------------------------- ---------------- --------------------
d) Aggregated information
- Aggregated volume 5,365,853
- Price 10.25p
- Principal amount GBP 549,999.93
-------------------------------------- --------------------------------------
e) Dates of the transaction 16 September 2022
f) Place of transaction Outside a trading venue
-------------------------------------- --------------------------------------
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END
IOESFLFEAEESEFU
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September 20, 2022 02:00 ET (06:00 GMT)
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