Business
Placing and subscription to raise £750,000
Placing and subscription to raise £750,000.
About this update from Truetide Plc
[{"type":"text","content":"\n \n \n 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.\n \n \n 20 September 2022\n \n \n \n \n Braveheart InvestmentGroup Plc\n \n (\"Braveheart\", the \"Company\" or the \"Group\")\n \n \n \n \n Placing and subscription to raise £750,000\n \n \n \n \n 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\").\n \n \n \n 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.\n \n 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.\n \n \n \n \n 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.\n \n \n \n \n \n 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.\n...