Business
Placing to raise £275,000
Placing to raise £275,000.
About this update from Truetide Plc
[{"type":"text","content":"\n \n \n RNS Number : 2324L\n Braveheart Investment Group plc\n 29 April 2020\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n 29 April 2020\n \n \n Braveheart Investment Group plc\n \n \n (\"Braveheart\" or \"the Company\")\n \n \n \n \n \n Placing to raise £275,000\n \n \n \n \n \n Braveheart Investment Group (AIM: BRH), is pleased to announce that Peterhouse Capital Limited, the Company's broker and agent for the Company, has placed 1,617,647 new ordinary shares of 2 pence each in the Company (\"Placing Shares\") at a price of 17 pence per share (\"Placing Price\") to raise £275,000, before expenses (the \"Placing\").\n \n \n Placing highlights\n \n \n · \n The Placing was subscribed to by both new and existing investors.\n \n \n · \n The Company intends to use the net proceeds of the Placing to enable the it to continue to provide additional financial investment into its Strategic Investments being: Paraytec Limited (100 per cent.), Pharm 2 Farm Limited (51.7 per cent.), Kirkstall Limited (64.67 per cent.), Gyrometric Systems Limited (19.95 per cent.), Phasefocus Holdings Limited (25.00 per cent.) and Sentinel Medical Limited (38.38 per cent.).\n \n \n · \n The Placing utilises the Company's existing authority to issue new ordinary shares for cash on a non-pre-emptive basis.\n \n \n \n Trevor Brown, Braveheart CEO, commented:\n \n \"\n We are delighted to have been able to raise this extra funding and to have also increased our shareholder base. The balance sheet of Braveheart remains strong and so we will be able to provide financial support to our Strategic Investments if it is required to keep up their momentum in development.\"\n \n \n Details of the Placing and admission to AIM\n \n \n The Company has raised approximately £275,000 before expenses. Pursuant to the Placing, the Company will receive net cash proceeds of approximately £262,000. The Placing will result in the issue of a total of 1,617,647 Placing Shares, representing, in aggregate, approximately 5.4 per cent. of the issued share capital of the Comp...