Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased a total of 119,30 Jun 2020 16:15
Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased a total of 119,637,590 ordinary shares of 0.2 pence each in Remote Monitoring Systems plc ("RMS" the "Existing RMS Shares") from Trevor Brown at a price of 0.275 pence per share, being the closing mid-market price on 29 June 2020, for a total consideration of £329,003. The consideration will be satisfied by the issue of a total of 2,632,026 new ordinary shares of 2 pence each in Braveheart (the "Consideration Shares"), with the issue price of the Consideration Shares being 12.5 pence each, the closing mid-market price of a Consideration Share on 29 June 2020. Attached to certain of the shares being acquired are warrants over new ordinary shares in RMS which are exercisable at a price of 0.5 pence per share and total 10,000,000 warrants. These warrants are to be assigned to Braveheart for no additional consideration. Upon completion of the transaction, Braveheart will own 18.1 per cent. of the issued share capital of RMS and Trevor Brown will no longer have a holding of ordinary shares in RMS.