RE: Mcw16 May 2025 21:16
Not so miffed at that placing. Not in BRH but see Trevor's bought a load, pi's are invited to partake (not that they won't be able to buy in the market anyway) and he says some very good things about BRH's portfolio of co,s and not wanting to sell any down whilst they're both undervalued and capable of massive growth.
Actually appears to be doing the best for shareholders...?
"Background to the Placing and use of proceeds
The Company's strategy is to seek to deploy shareholder funds into businesses that exhibit distinct qualities deemed capable of delivering exceptional returns upon disposal.
Braveheart's current plc costs are approximately £400k per annum and income, though growing, is around £100k. Its cash balance as at 15 May 2025 was £73,000. Although Braveheart has a portfolio of AIM investments worth approximately £2.2 million at existing market prices, current market conditions and the positive underlying prospects for these investments mean that the Braveheart Directors ("Directors") do not consider it in the best interests of Existing Shareholders to implement sales of parts of the investment portfolio to fund all £300k net running costs.
Instead, to protect shareholder interests over the current financial year, the Directors have decided to defer a substantial portion of their fees from July 2025 and arrange a modest fund raising. The object being to minimize shareholder dilution whilst maintaining maximum exposure to the upside prospects that the Directors believe exist in the Company's two largest holdings.
The Company is undertaking the Placing to ensure it maintains adequate financial resources which will enable Braveheart to continue to pursue its investment strategy. The net proceeds of the Placing, together with any funds raised pursuant to the Broker Option, will be utilised for general working capital purposes."
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