Business
Placing to raise £215,113
Placing to raise £215,113.
About this update from Truetide Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3966H\n Braveheart Investment Group plc\n 06 April 2022\n \n \n \n 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.\n \n 6 April 2022\n \n Braveheart Investment Group plc\n \n (\"Braveheart\", the \"Company\" or the \"Group\")\n \n \n Placing to raise £215,113 before expenses\n \n \n 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\").\n \n \n Highlights\n \n \n · 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.\n \n · The Placing Shares will represent approximately 2.67 per cent. of the enlarged issued share capital of the Company.\n \n · 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.\n \n · The Company has utilised its existing authority to issue new ordinary shares for cash on a non-pre-emptive basis.\n \n · Trevor Brown, Chief Executive of the Company, has subscribed for 143,407 Placing Shares.\n \n \n \n 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.\"\n \n \n Director participation in the Placing\n \n 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 requ...