Business
Update re. Portfolio investment
Update re. Portfolio investment.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 5416Q Braveheart Investment Group plc 13 September 2017 \n\n \nPrior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). With the publication of this announcement, this information is now considered to be in the public domain.\n13 September 2017\nBraveheart Investment Group plc\n(\"Braveheart\" or \"the Company\")\nUpdate re. Portfolio investment\n \nBraveheart Investment Group plc (AIM: BRH), the fund management and strategic investor group, announces that one of its Strategic Investments, Kirkstall Limited, a biotechnology company operating within the global organ-on-a-chip market, has commenced an investor marketing exercise. The board of Kirkstall is seeking to raise up to £2.5 million in a private placing at a pre-money valuation of £5.6 million.\n \nBraveheart currently holds 43.36 per cent. of the issued share capital (37.65 per cent. on a fully diluted basis) and its carrying value in the consolidated balance sheet as at 31 March 2017 was £287,000, the original cost price of the investment. Braveheart does not currently intend to participate in the placing.\n \nThere can be no certainty that the fundraising by Kirkstall Limited will be completed, how much will be raised or, if a placing is completed, at what pre-money valuation the placing will be effected at. \n \nA further announcement will be made in due course.\n \n \nFurther information:\nBraveheart Investment Group plc\nTrevor Brown, Chief Executive Tel: +44 1738 587555\nAllenby Capital Limited (Nominated Adviser and Broker to Braveheart)\nDavid Worlidge / James Thomas &n...