Member Info for Bennster

Henk245 - I did say I believe the lack of sale is COVID only and that longer term the sepsis and bladder cancer will come back into play so we agree there.
This BB has been awash with COVID rampers for nearly 12 months - you'd be fooled into thinking BRH was a pharma company developing a COVID test and nothing else! The RNS on Feb 25th should have at least quoshed the theory that the COVID test will make us a fortune. BRH finally and quite rightly have highlighted it's not the bee all and end all, which I agree with.
You're right about voting NO - I also urge everyone to do so.

Manutdboy12 - apologies, I only know I get an alert via my broker who offer the facility for me to vote.
May be best to ask your broker how this works.

Again you're missing the point Skippsy.
Raising funds is one thing. Placing in a closed placing at a deep discount to a chairman who has just sold up for a profit is the bit that upsets and offends.
This GM motion will allow the board, without further recourse to us, to place up to 20,000,000 shares this year if they want and that can be for cash.... this could well be to TB for a silly price just like 2021.
The last special dividend was paid 25% to TB - fact.
TB then sold his shares at a big profit - fact.
TB then accepted a closed placing with his relatives in FAB for 26% of the company - fact.
The placing funds bought a share of Autins and got spent on a COVID test which is now on the back burner - fact.

Hi henk245 - here is the bit I refer to lifted from the RNS:
"It now appears unlikely that Braveheart will be able to conclude a sale with one of the remaining engaged parties at an acceptable price in the foreseeable future."
and
"Paraytec, though an important component of shareholder value within the Group will not on its own, determine the prospects for increasing shareholder returns."

That's bottom drawer territory for me - that doesn't mean 100% failed, it means back burner....
I also assume this is the COVID element, I still hold out hope longer term for the Sepsis and Bladder cancer work

You make judgement and you're not understanding any of the issues I raise - that's your bad.

I know exactly what BRH is and I have no issue with being a LTH if it's run correctly. It's perfectly valid to expect the company to grow organically rather than issue shares like confetti - also when they only issue at a discount to certain benefactors - that's the beef here.
If BRH cannot achieve a return on over 15 existing investments then why give the BoD a carte blanche to dilute us more to go after something else shiny? Calling the BoD to account for previous failures/actions that have cost us capital is what we should do as shareholders.
There is NO conspiracy in reminding you what TB HAS DONE in 2021 and the RNS detail is all there for you to digest just above this chat box.

ToDaMoon - I took the RNS 25th Feb as the update on CX300, and it's effectively in the bottom drawer now.
Points well made by you and OutofLuck - there are plenty of projects that may be sold for revenue like Phasefocus - rather than pay it as a special dividend and then place more shares - they should be using that money or any other income to chase the rainbow.
The last placing was diverted to buying a stake in Autins - you decide if you want to be diluted heavily for that kind of project this year.

If you allow this to pass you are allowing TB and the board to dilute us yet further, whilst their existing investments haven't borne fruit yet.
The RNS tells us they fancy being able to do as they please and want permission.
BRH have already raised last year and should have cash left to invest - otherwise they should bring other investments to maturity to pay for the next adventure.
If we make bad investment choices as individuals we shouldn't go to the bank of mum and dad or the loan company to get more cash to invest. We cut our cloth.

"BRH is TB's baby and he's not going to screw it over"
Agreed - I don't think TB wants to screw over BRH.
However, he's the one making all the money - that's my beef. His actions have locked in profits for him and losses for us.

Regulator UK - wow.
Firstly BRH could actually make some money out of it's existing investments and then invest that?
Secondly, given the reality of 2021, why would we be pleased to offer TB the chance to issue another 20 million shares as he sees fit?
Thirdly - an investment company is supposed to make money for it's shareholders. How rich are we all feeling?

I think we're both coming at it from the same angle - yes, any issue of shares would nominally be to buy another investment, but it would be at TB's discretion when, how much and at what price - and could be cash placing.
You are correct - TB's reputation is shattered given his antics over 12 months, so we can only assume the worst. As other posters have pointed out, any placing or issue should be for the benefit of ALL PI's. Remember TB owns shares in other companies like Chamberlin, so this could open the door for BRH to invest there further to TB's benefit.

again Chavi - you're referring to the second part of the RNS

PrivateRyan - your point is about the second paragraph of the RNS - here is the first:

"Authority to directors to issue shares

Braveheart Investment Group plc (AIM: BRH), the fund management and strategic investor group, announces that it is sending a circular to shareholders today convening a general meeting of the Company (the "General Meeting") in order to seek shareholder permission to authorise the directors unconditionally, for the purposes of Section 551 of the Companies Act 2006 (the "CA 2006"), to allot or grant rights to subscribe for shares in the Company and, for the purposes of Section 570 of the CA 2006, to allot shares in the Company for cash on a non-pre-emptive basis up to an aggregate nominal amount of £400,000 or 20,000,000 ordinary shares of 2 pence each, representing 38.28% of the Company's existing ordinary share capital."

PrivateRyan - This is the BoD asking for permission over the next 12 months to issue more shares in BRH and to do as they please without further recourse to us as shareholders. This is not a confirmed placing yet.
If they get this passed then the door is open for TB to pick his time and price and we're stuck.

My past experience of such meetings is that investors are put into listening mode (if you're dialling in) and questions are vetted. I can't attend in person.
I don't think venting at TB would help - I believe he knows what he's doing and doesn't care. I'll post my vote but I also know from experience that there are often large institutional blocks of shares that vote with the Board by default. This means if every PI here were to make the effort to vote NO, the overall vote would still be 90%+ in favour.

I will be voting NO.
BRH have to use organic returns to reinvest if they want more sweeties from the jar.
I don't believe I have to attend the GM, my broker offers me the ability to vote remotely.

pc1073 - that is the right answer, except TB owns enough of the company I reckon there's not enough dissenting voices to stop it. What we can't see is who owns the shares TB doesn't have under his direct or indirect control.

Starknight. Today we agree.
Note the date! :-)

I agree with your point about the manner of posts. I have read lots of posters on different boards make reasonable points, worthy of debate, but in a manner that upsets everybody, which is unnecessary. I've also seen those who disagree resort to personal insults etc. and that's weak debate too IMHO.
I respectfully disagree about those not invested - it is possible to have a strong view on a company without currently owning shares. If a point is raised that deserves debate I don't mind who raises it. It gives those who are invested a chance to reply.

It is normally a key duty of company directors to maximise shareholder value.
I believe the BoD have taken that duty very seriously for some, but at the expense of others.
I don't have an issue with TB buying shares in the open market, or indeed selling if it's outside of major news.
I DO have an issue with closed placings, particularly at remarkably opportune prices.
I DO have an issue with a chairman selling between a dividend upward manipulation and then a placing, as occurred mid 2021.

Today the market is giving it's verdict on the next chapter of share allocation being authorised. The BoD should have clarified they would never issue a closed placing again to an insider.
We can only hope TB is planning a SP upswing from here to make a bit more - that gives us an opportunity too. It really is a bad day if there is no upswing and TB (the BoD) simply allocates himself up to 20,000,000 shares at a price to suit himself.

TB watch will be interesting in the next 12 months.....
We know he has a big slice at 18p still to sell and now he's bought a buffer at 11.5p.
Looking at his past record I might make a prediction.....
Year end contains some good news, possibly a dividend - price spikes, TB gains.
TB then releases his 18p tranche over a month or two to get the price to dribble back to 18p.
TB then releases the 11.5p slice just before announcing a closed placing at about 10p......
We are sat in 12 months time back at about 18p with the usual bickering on this BB.