Business
Dealings Commence
Dealings Commence.
About this update from Truetide Plc
[{"type":"text","content":"\n Braveheart Investment Group plc\n30 March 2007\n\n\n Braveheart Investment Group plc\n ('Braveheart' or the 'Company')\n\n COMPLETION OF £6.64 MILLION PLACING\n\n ADMISSION TO AIM AND FIRST DAY OF DEALINGS\n\nBraveheart, a venture capital and investment management business which has a\nproven track record of delivering attractive returns through investments in\ncompanies which commercialise intellectual property, announces today that it has\nraised approximately £6.64 million by way of a placing and that its shares will\ncommence trading on AIM today, under the symbol BRH.\n\nBraveheart has placed 3,991,020 new Ordinary Shares at a price of 160 pence per\nshare and will have a market capitalisation, at the Placing price of £21.45\nmillion. Panmure Gordon & Co Limited is nominated advisor and broker to the\nCompany.\n\nKey Points\n\n• The Group's structure provides it with a mix of regular revenue streams\n from investment management fees and exceptional income through the realisation\n of investments upon exit.\n\n• Investments are made in young, emerging, unlisted companies where there\n is potential for significant growth.\n\n• Investments are typically focused on British companies with potential\n global technology solutions.\n\n• Investment opportunities mainly arise from Braveheart's extensive\n network of contacts, which includes close relationships with universities and\n innovation centres.\n\n• An equal investment made in every portfolio company since the Group's\n formation would have generated an average compound return of 37 per cent. per\n annum on realised investments.\n\n• Of the 16 portfolio investments realised so far, five have been by way\n of IPO, and three have been by way of trade sale or secondary purchase. Eight\n have been written off.\n\n• In November 2005, Uberior Investments plc (a subsidiary of the Bank of\n Scotland) subscribed for 10 per cent. of the enlarged share capital of the\n Company, providing the resources for the Group to commence making significant\n investments alongside its clients.\n\n• The net proceeds of the Placing will be used to:\n - increase direct investment;\n - invest in captive university funds which the Group will manage; and\n - acquire assets where the Group believes it can add value.\n\n• The Group has been profitable for its last three financi...