Braveheart Investment Group plc Update re. Portfolio investment (5416Q)
September 13 2017 - 2:00AM
UK Regulatory
TIDMBRH
RNS Number : 5416Q
Braveheart Investment Group plc
13 September 2017
Prior 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.
13 September 2017
Braveheart Investment Group plc
("Braveheart" or "the Company")
Update re. Portfolio investment
Braveheart 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 GBP2.5 million in a private placing at a pre-money valuation of
GBP5.6 million.
Braveheart 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
GBP287,000, the original cost price of the investment. Braveheart
does not currently intend to participate in the placing.
There 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.
A further announcement will be made in due course.
Further information:
Braveheart Investment Group plc
Trevor Brown, Chief Executive Tel: +44 1738 587555
Allenby Capital Limited (Nominated Adviser and Broker to
Braveheart)
David Worlidge / James Thomas Tel: +44 20 3328 5656
This information is provided by RNS
The company news service from the London Stock Exchange
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