RE: ALZHEIMER'S DISEASE TEST PARAYTEC PRODUCTS31 Aug 2021 21:57
18p just a couple of weeks ago. What a bunch this lot are.
Placing to raise £2.5 million
Braveheart Investment Group (AIM: BRH), is pleased to announce a placing of 13,888,889 new ordinary shares of 2 pence each in the Company ("Placing Shares") at a price of 18 pence per share ("Placing Price"), raising gross proceeds of £2,500,000 before expenses (the "Placing").
Highlights
· Fundraise of £2,500,000, through a placing by the Company's broker, Peterhouse Capital Limited of 13,888,889 new ordinary shares of 2 pence each in the Company at an issue price of 18 pence per Placing Share.
· The Placing Shares will represent approximately 26.59 per cent. of the enlarged issued share capital of the Company.
· The Placing Shares are being issued at a price of 18 pence per Placing Share, representing a discount of approximately 20.88 per cent. to the closing mid-market share price of an existing ordinary share on 12 August 2021, the business day prior to this announcement.
· The Company has utilised its existing authority to issue new ordinary shares for cash on a non-pre-emptive basis.
· Trevor Brown, Chief Executive of the Company has subscribed for 3,500,000 Placing Shares and Free Association Books Limited, a company which is connected to Trevor Brown, has subscribed for 4,500,000 Placing Shares.
· Vivian Hallam, Executive Director of the Company, has subscribed for 833,333 shares in the Placing.
Trevor Brown, Braveheart CEO, commented: "We are delighted to have been able to raise this extra funding which will enable Paraytec to pursue its new strategy."