REG - Braveheart Inv Group - Acquisition of further interest in Autins Group

Braveheart InvestmentAnnouncement

06/03/2024 07:00

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RNS Number : 7096F  Braveheart Investment Group plc  06 March 2024

6 March 2024

 

Braveheart Investment Group Plc

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

 

Acquisition of further interest in Autins Group plc

 

Braveheart Investment Group (AIM: BRH), announces that between 4 March 2024
and 5 March 2024, the Company has purchased a further 4,000,000 ordinary
shares in Autins Group plc ("Autins") at an average price of 8 pence per share
for a total cash consideration of £320,000. Following these purchases,
Braveheart now holds 23.42% per cent. of the issued share capital of Autins.

 

Autins' shares are admitted to trading on AIM (AIM: AUTG) and the company
specialises in solving acoustic and thermal problems in the automotive
industry and other specialist applications. The growth of electric vehicle
production has created new opportunities for Autins who now supply vehicle
producers including: JLR, Nissan, BMW, Aston Martin, Lotus, Lamborghini and
Bentley; as well as Tier 1 automotive suppliers: Draxlmaier, Kasai, Treves,
Novares, Mergon and Yangfeng. In the year ended 30 September 2023, Autins made
a loss before tax of £1.04 million on revenue of approximately £22.7 million
with net assets of approximately £10.8 million.

 

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: 01738 587555
 Trevor Brown, Chief Executive Officer

 Viv Hallam, Executive Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: 020 3328 5656
 James Reeve / George Payne

 Peterhouse Capital Limited (Joint Broker)                      Tel: 020 7469 0936
 Duncan Vasey / Lucy Williams

 

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