Business
Update to the Market
Update to the Market.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 4455B Braveheart Investment Group plc 07 June 2019 \n\n7 June 2019\nBraveheart Investment Group plc\n(\"Braveheart\" or the \"Company\")\n \nUpdate to the Market\nBraveheart Investment Group plc (AIM: BRH), the fund management and strategic investor group, is pleased to announce that the audit of its accounts for the year ended 31 March 2019 is now proceeding. As indicated at the time of the release of the Interim Results for the six months ended 30 September 2018, it is expected that the audit process will take longer to complete this year than in previous years because of the added work and complications that have arisen from having to consolidate into Braveheart's accounts the accounts of Kirkstall Limited and Paraytec Limited, two of Braveheart's Strategic Investments. This consolidation of these two underlying investments is required as a result of Braveheart now owning in excess of 50 per cent. of these companies and exerting significant managerial control over them. \nThe Board has continued to focus heavily on the existing Strategic Investments, Kirkstall Limited, Paraytec Limited and Gyrometric Systems Limited. \nParaytec has recently spun out to its shareholders, Sentinel Medical Limited, a company which will seek to exploit the technology developed by Paraytec to detect cancer cells in urine. Braveheart now holds a 32.8 per cent. interest in Sentinel Limited and considers this to be a separate Strategic Investment. \nIn addition, Braveheart recently acquired a 21.2 per cent. interest in PhaseFocus Holdings Limited which owns 100 per cent. of the issued share capital of Phase Focus Limited, a revenue producing company which uses novel computational methods to enhance image quality in both optical and electron microscopes.\nAs a result of these developments, Braveheart now holds investments in five Strategic Investments alongside its portfolio of other historic investments.\nThe Board expects to announce its results for the year ended 31 March 2019 in late July 2019 and therefore intends to hold the Annual General Meeting in late August 2019. \nFor further information:\n \n\n\n\nBraveheart Investment Group plc\nTrevor Brown, Chief Executive Officer\n \n \n\n\nTel: 01738 587555\n\n\n\n\nAllenby Capital Limited (Nominated Adviser and...