REG - Braveheart Inv Group - Posting of annual report and notice of AGM

Braveheart InvestmentAnnouncement

05/07/2023 07:00

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RNS Number : 9488E  Braveheart Investment Group plc  05 July 2023

5 July 2023

Braveheart Investment Group plc

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

 

Posting of annual report and accounts, notice of AGM and

proposed amendment to investment strategy

 

Braveheart Investment Group (AIM: BRH), announces that the Company's annual
report and accounts for the year ended 31 March 2023, which incorporates
notice of the Company's 2023 Annual General Meeting ("AGM") will be posted to
shareholders today and will be available to download from the Company's
website at www.braveheartgroup.co.uk.

 

The AGM will be held on 28 July 2023 at 10.30 am at the office of China
Ventures Ltd, Unit 2, Common Farm, Common Lane, Mappleborough Green,
Warwickshire, B80 7DP.

 

Proposed amendments to the Group's investment strategy

 

The AGM notice contains a resolution (the "Investment Strategy Resolution") to
permit the Directors to replace the Company's investment strategy (the
"Investment Strategy") as set out in part 1 of the Company's admission
document dated 27 March 2007, which determines the permitted business and
strategy of the Company.

 

The proposed new Investment Strategy is set out below:

 

The Group's strategy is to invest in early and later-stage businesses,
primarily in the technology sector, but it will also consider opportunities in
other sectors that are knowledge intensive, such as healthcare and
professional services.

 

The Group will target investments in both unlisted and listed companies, where
there is potential for significant growth. Investments are expected to be
mainly in the form of equity and equity-related instruments, including
convertible debt instruments in certain circumstances.

 

The Group may acquire investments directly or by way of holdings in
intermediate holding or subsidiary entities. The Group might also invest in
limited liability partnerships and other forms of legal entity. Where
possible, the Group will seek investor protection rights, as determined by the
Board.

 

The Group may offer its Ordinary Shares in exchange for shares in investee
businesses in addition to a cash investment in such businesses.

 

For unlisted company investments, the Group targets companies at different
stages of development, ranging from those which are just starting to trade to
those which are expecting to achieve an IPO in the short term, thus providing
portfolio diversification. These investments will typically involve active
investment management.

 

The Group, where appropriate and deemed by the Board to be in the Group's best
interests, may seek a position on the boards of unlisted investee companies.
The Group where appropriate, will assist the board and management of investee
companies, including helping to scale management teams, informing strategy and
assisting with future financing.

 

For listed company investments, the Group targets investments where the Board
considers the shares are undervalued but there are opportunities for
significant growth. These investments will typically involve passive
investment management, although the Board may take a more active approach if
it considers there is a need to effect change.

 

Braveheart may occasionally invest in companies that are in rescue or distress
situations where a value-creating opportunity has been identified. The Group
does not have any maximum exposure limits but will generally take a minority
stake in a business and look for investments where there is a good prospect of
an exit in a two-to-five-year time period.

 

As risk reduces, the Group may increase its investment in subsequent rounds of
funding and, as those businesses grow, may find itself holding a controlling
interest in some trading companies. However, in such instances the Board will
ensure that there is sufficient separation between the Group and the investee
company so that the investee company does not become a trading company of the
Group.

 

Full details of the proposed amendments to the Investment Strategy are set out
in the explanatory notes to the notice of AGM. Should the Investment Strategy
Resolution not be passed at the AGM, the Company will not be able to make the
proposed amendments to the Investment Strategy. A further announcement will be
made on conclusion of the AGM.

 

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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