Braveheart Investment Group plc Update to the Market (4455B)
June 07 2019 - 2:00AM
UK Regulatory
TIDMBRH
RNS Number : 4455B
Braveheart Investment Group plc
07 June 2019
7 June 2019
Braveheart Investment Group plc
("Braveheart" or the "Company")
Update to the Market
Braveheart 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.
The Board has continued to focus heavily on the existing
Strategic Investments, Kirkstall Limited, Paraytec Limited and
Gyrometric Systems Limited.
Paraytec 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.
In 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.
As a result of these developments, Braveheart now holds
investments in five Strategic Investments alongside its portfolio
of other historic investments.
The 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.
For further information:
Braveheart Investment Group plc Tel: 01738 587555
Trevor Brown, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser Tel: 020 3328 5656
and Joint Broker)
David Worlidge / Nicholas Chambers
Peterhouse Capital Limited (Joint Broker) Tel: 020 7469 0936
Heena Karani / Lucy Williams
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END
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