Issue of equity and placing of shares
11 May 2012
Braveheart Investment Group plc
(the 'Company')
Issue of Equity and Placing of Shares
Braveheart Investment Group plc (BRH), the AIM-listed investment management group specialising in venture capital investments and investment services to business angels, high net worth individuals, family offices and public sector organisations, is pleased to announce a fundraising of £164,000, following a subscription by new and existing shareholders for 1,093,333 new ordinary shares at a price of 15 pence per share.
The new subscription shares will represent approximately 4.8 per cent of the issued share capital of the Company as enlarged by the subscription. The proceeds of the subscription will be used for general working capital.
This transaction, together with the placing announced on 5 April, takes the total equity funding raised by the Company to £500,000 since the acquisition of Neon Capital Partners, announced on 23 March. All equity has been issued at a price of 15 pence per share.
The subscription is conditional upon admission of the new shares to trading on AIM. Admission is expected to become effective and dealings are expected to commence on 14 May 2012.
The number of Ordinary Shares in issue following the subscription will be 22,614,378, which is the number which 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 FSA's Disclosure and Transparency Rules.
Geoffrey Thomson, Chief Executive, said: "We completed the purchases of Yorkshire based Neon (in March) using our own resources. However, at the time we determined to raise capital to offset the purchase price and associated costs. £500,000 was the number we settled on and this announcement completes that funding requirement. I would like to thank shareholders for their support and a particular welcome goes to Yorkshire investors who have supported us for the first time.
"We are now a significant manager of public funds in the UK, and Braveheart is well positioned to achieve organic growth while taking advantage of further M&A opportunities that may arise."
Notifiable shareholdings prior to and following the subscription and the sale of existing shareholdings are as follows:
|
|
Prior to transaction |
|
Following transaction |
||
|
Shareholder |
Number |
Percentage of issued |
|
Number |
Percentage of issued |
|
BBHISL Nominees Limited1 |
5,626,840 |
26.14% |
|
5,626,840 |
24.88% |
|
G C B Thomson |
2,350,890 |
10.92% |
|
2,350,890 |
10.40% |
|
D C Thomson Ltd |
2,149,300 |
9.99% |
|
2,258,490 |
9.99% |
|
Chase Nominees Limited 2 |
1,055,440 |
4.90% |
|
1,055,440 |
4.67% |
|
A T G Burton |
885,161 |
4.11% |
|
925,161 |
4.09% |
|
Horatio Investments Limited1 |
653,333 |
3.04% |
|
972,385 |
4.30% |
|
|
|
|
|
|
|
1 Beneficial owner being A Norris
2 Beneficial owner being W Rehman
Further information:
Braveheart Investment Group plc
|
Geoffrey Thomson, Chief Executive |
Tel: 01738 587 555 |
Seymour Pierce Limited (Nominated Adviser and Broker)
|
Freddy Crossley Paul Jewell, David Banks |
Tel: 020 7107 8000
|
Merchant Securities Limited (Joint Broker)
|
Lindsay Mair Catherine Miles |
Tel: 020 7628 2200
|
Media enquiries:
Allerton Communications
|
Peter Curtain |
Tel: 020 3137 2500 |
Notes to Editors
Braveheart Investment Group makes and manages investments in young, emerging British companies, specialising in building portfolios for business angels, high net worth individuals, family offices and public sector organisations. Braveheart was founded in 1997 by a small group of investors to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Fifteen years on, Braveheart is a public company with a demonstrable track record in SME investing, an established client base and various funds under management. The Group has offices in Perth, London, Yorkshire and Jersey, and franchises in Dubai and Manchester.
For more information: www.braveheartinvestmentgroup.co.uk
This information is provided by RNS
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