Braveheart Investment Group PLC - Dodworth, England-based investment company - Announces conditional sale of Phasefocus Holdings Ltd to analytics instrumentation company Bruker UK Ltd for GBP5 million. Once closing conditions are satisfied, Braveheart expects completion of the sale to occur in the first quarter of 2024. Consideration will be payable in cash and represent GBP17.74 per Phasefocus share. Braveheart currently holds 48.3% of Phasefocus's issued share capital. Estimates that it will receive total sale proceeds of approximately GBP2.1 million after expenses. Braveheart says board is still considering whether to use proceeds to continue support further investments in technology-based companies, or whether to redistribute the proceeds via a special dividend.
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By Emma Curzon, Alliance News reporter
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Braveheart Inv (BRH)