REG - Braveheart Inv Group - Placing and subscription to raise £750,000

Braveheart InvestmentAnnouncement

20/09/2022 07:00

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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 £750,000

 

Braveheart Investment Group (AIM: BRH), announces that the Company has raised
£750,000 (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 £200,000.05
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 £550,000 (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 and Joint Broker)   Tel: 020 3328 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

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Trevor Brown

 2    Reason for the notification

 a)   Position/status                                              Chief Executive Officer

 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Braveheart Investment Group plc

 b)   LEI                                                          2138006HQ3COMU626I61

 4    Details of the transaction(s): section to be repeated 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 financial instrument, type of instrument  Ordinary shares of 2 pence each in Braveheart Investment Group plc

      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                                           £ 549,999.93

 e)   Dates of the transaction                                     16 September 2022

 f)   Place of transaction                                         Outside a trading venue

 

 

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