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

AutinsAnnouncement

26/06/2024 14:15

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RNS Number : 0105U  Braveheart Investment Group plc  26 June 2024

26 June 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 an update on recent
purchases of shares by Braveheart in one of its portfolio companies, Autins
Group plc ("Autins"). Between 15 March 2024 and 25 June 2024, the Company has
purchased a further 1,930,000 ordinary shares in Autins at an average price of
10.24 pence per share for a total cash consideration of £197,600, details of
which are set out below. Following these purchases, Braveheart now holds
26.95% per cent. of the issued share capital of Autins.

 

 Date Of Purchase  No. of Autins Shares Purchased  Price (£)       Consideration (£)
 15 March 2024     300,000                         £    0.080      £24,000
 5 April 2024      420,000                         £    0.089      £37,380
 19 April 2024     85,000                          £    0.100      £8,500
 23 April 2024     165,000                         £    0.110      £18,150
 8 May 2024        250,000                         £    0.100      £25,000
 31 May 2024       100,000                         £    0.117      £11,700
 28 May 2024       110,000                         £    0.117      £12,870
 25 June 2024      500,000                         £    0.120      £60,000

 

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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