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

Braveheart InvestmentAnnouncement

20/10/2022 14:00

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RNS Number : 5892D  Braveheart Investment Group plc  20 October 2022

20 October 2022

Braveheart Investment Group plc

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

Acquisition of further interest in Autins Group plc

 

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has
purchased a further 2,300,000 ordinary shares of two pence each in Autins
Group plc ("Autins") at an average price of 7 pence per share for a total
consideration of £161,000. Upon completion of the transaction, Braveheart
will own 12.91 per cent. of the issued share capital of Autins.

 

In the year ended 30 September 2021, Autins made a loss before tax of £1.18
million on revenue of £23.4 million and as at 31 March 2022 had unaudited net
assets of approximately £14.2 million.

 

Autins, an AIM listed company, specialises in solving acoustic and thermal
problems in the automotive industry and other specialist applications. Set up
in 1966 as Automotive Insulations, the company became well known within the
automotive sector for manufacturing parts for the original Mini.

 

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
 David Worlidge / James Reeve / George Payne

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

 

 

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