TIDMBRH

RNS Number : 7869S

Braveheart Investment Group plc

13 July 2020

13 July 2020

Braveheart Investment Group plc

("Braveheart" or "the Group")

GBP200,000 participation in placing effected by Remote Monitored Systems plc

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has conditionally subscribed for 80,000,000 new ordinary shares of 0.2p nominal value each in Remote Monitored Systems plc ("RMS") at a price of 0.25p per share (the Subscription"). Admission of these new shares to AIM is expected to be on or around 17 July 2020.

As a result of this subscription, Braveheart will increase its holding in RMS to 199,637,590 shares, representing approximately 25.79% of the enlarged issued share capital and total voting rights of RMS. In addition, Braveheart holds 100,000 warrants over new ordinary shares in RMS which are exercisable at a price of 0.5 pence per share. The Subscription will be financed from the existing cash resources of the Company.

RMS is an operating company whose ordinary shares are admitted to trading on AIM. In the year ended 31 December 2019, RMS incurred a loss before taxation of GBP711,942 and as at that date had net liabilities of GBP19,250. As at 29 June 2020, the directors of RMS estimated that RMS had net cash of approximately GBP266,000. Earlier today, RMS announced that it had conditionally placed new shares to the value of GBP265,000, by the issue of 106,000,000 new shares at a price of 0.25p per share. In addition, RMS is issuing a further 6,950,000 new shares, also at 0.25p per share, in settlement of certain professional fees.

RMS has two trading subsidiaries, GyroMetric Systems Limited ("GyroMetric"), in which it owns a 58 per cent. interest, which develops and manufactures digital monitoring and safeguarding systems for rotating shafts and Cloudveil Limited ("Cloudveil"), an intelligence services and security risk management business, which was acquired in September 2019.

 
 For further information: 
 
   Braveheart Investment Group plc              Tel: 01738 
                                                 587555 
   Viv Hallam, Executive Director 
 
   Allenby Capital Limited (Nominated Adviser   Tel: 020 3328 
    and Joint Broker)                            5656 
   David Worlidge / Nicholas Chambers 
 
   Peterhouse Capital Limited (Joint Broker)    Tel: 020 7469 
                                                 0936 
   Heena Karani / Lucy Williams

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCGPUQGMUPUUQW

(END) Dow Jones Newswires

July 13, 2020 02:18 ET (06:18 GMT)

Braveheart Investment (LSE:BRH)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Braveheart Investment Charts.
Braveheart Investment (LSE:BRH)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Braveheart Investment Charts.