REG - Braveheart Inv Group - Placing to raise £215,113

Braveheart InvestmentAnnouncement

06/04/2022 07:00

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RNS Number : 3966H  Braveheart Investment Group plc  06 April 2022

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

6 April 2022

 

Braveheart Investment Group plc

 

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

 

Placing to raise £215,113 before expenses

 

Braveheart Investment Group (AIM: BRH), is pleased to announce a placing of
1,434,091 new ordinary shares of 2 pence each in the Company ("Placing
Shares") at a price of 15 pence per share ("Placing Price"), raising gross
proceeds of £215,113 before expenses (the "Placing").

 

 

Highlights

 

·    Fundraise of £215,113, through a conditional placing by the
Company's broker, Peterhouse Capital Limited, of 1,434,091 new ordinary shares
of 2 pence each in the Company at an issue price of 15 pence per Placing
Share.

·    The Placing Shares will represent approximately 2.67 per cent. of the
enlarged issued share capital of the Company.

·    The Placing Shares are being issued at a price of 15 pence per
Placing Share, representing a discount of 10 per cent. to the closing
mid-market share price of an existing ordinary share on 5 April 2022 of 16.5p,
the business day prior to this announcement.

·    The Company has utilised its existing authority to issue new ordinary
shares for cash on a non-pre-emptive basis.

·    Trevor Brown, Chief Executive of the Company, has subscribed for
143,407 Placing Shares.

 

Trevor Brown, Braveheart CEO, commented: "We are delighted to have been able
to raise this extra funding which will enable Braveheart to continue its
investment in portfolio assets."

 

 

Director participation in the Placing

 

Trevor Brown, Chief Executive of the Company, has subscribed for 143,407
Placing Shares, at the issue price of 15 pence per ordinary share. Following
completion of the Placing, Trevor Brown will hold 4,894,420 ordinary shares in
the Company, equivalent to 9.12 per cent. of the Company's issued share
capital as enlarged by the Placing. The FCA notification, made in accordance
with the requirements of the UK Market Abuse Regulation, is appended below.

 

Details of the Placing and total voting rights

 

A total of 1,434,091 Placing Shares are to be issued at a price of 15 pence
per share. The Placing has been conducted utilising the Company's existing
share authorities granted at the Annual General Meeting of the Company held on
14 July 2021. Peterhouse Capital Limited acted as the Company's broker in
connection with the Placing. Allenby Capital Limited acted as the Company's
nominated adviser in connection with the Placing.  The Placing is
conditional, inter alia, on admission of the Placing Shares to trading on AIM
("Admission") becoming effective.

 

The net proceeds of the Placing will be used by the Company in order to be
able to continue to support the Strategic Investments of the Company in their
development and, if appropriate, for new investments and for working capital
generally.

 

Application has been made to the London Stock Exchange for the Placing Shares
to be admitted to trading on AIM. It is expected that Admission will become
effective and that dealings in the Placing Shares on AIM will commence on or
around 11 April 2022.

 

On Admission, the Company's issued ordinary share capital will consist of
53,674,431 ordinary shares of 2 pence each, with one vote per share. The
Company does not hold any ordinary shares in treasury.  Therefore, on
Admission, the total number of ordinary shares and voting rights in the
Company will be 53,674,431.  With effect from Admission, this figure may be
used by shareholders in the Company 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 share capital of the Company under the
FCA's Disclosure Guidance and Transparency Rules.

 

 

For further information:

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown CEO

 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

 

 

 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                                   Conditional placing of new ordinary shares

 c)   Price(s) and volume(s)                                       Price(s)                            Volume(s)

                                                                   15p                                 143,407

 d)   Aggregated information

      - Aggregated volume                                          143,407

      - Price                                                      15p

      - Principal amount                                           £21,511.05

 e)   Dates of the transaction                                      6 April 2022

 f)   Place of transaction                                         Outside a trading venue

 

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