INVESTING IN BRAVEHEART LAST CHANCE TO GET IN UNDER £122 Apr 2021 15:09
Braveheart Investment Group (LON:BRH) share price surged 221.2% in 11 days to 128.50p (22/2/21) after issuing a stock market update on its work to develop Covid-19 tests.
Braveheart Investment Group is a diversified venture capital portfolio
Braveheart, though a financial services company, is a pure play on the technology sector. It is a venture capital-type of company, with a high-conviction strategy of investing in a small number of promising tech stocks offering the prospect of higher returns than would a properly diversified portfolio with more modest returns. Braveheart holds just five companies in its Strategic Investments portfolio, companies that it either controls or owns outright, and a portfolio of 12 other tech stocks.
The sudden surge in Braveheart Investment Group’s share price followed news that Paraytec, one of its key investments, is developing a Covid rapid testing kit that promises to deliver a result in five minutes. Its latest market update, issued this morning (1/3/21), confirms that the testing programme is on track, and ready to move on to the next trials stage.
The technology will also enable multiple simultaneous testing for public events, such as sports festivals and stadiums. As Braveheart CEO Trevor Brown said, “these latest laboratory results make clear that the Paraytec technology is capable of being market leading. Our attention will now turn towards quickly commencing the final clinical trial and commercialising our product either ourselves or with a partner.
Braveheart owns Paraytec outright, which means Paraytec’s company accounts – and its profits – are consolidated into Braveheart’s group accounts. Braveheart said it made a profit of £402,000 in the six months to end September 2020, against a loss of £122,000 in 2019, on revenues of £895,000 (2019: £250,000). The estimated value of the group’s strategic portfolio rose to £2.61m (2019: £1.1m) over the six months period. Group cash held for the period was up to £660,000, against liabilities of £281,000.
In November 2020, Braveheart sold its stake in Remote Monitored Systems for £17.4m, allocating much of the cash to increase its stake in one of its key investments, Phase Focus Ltd, which develops computational imaging techniques. The sale also allowed Braveheart to pay a special dividend of 42.75p per share, worth more than the share price at the time of 35.5p, worth £15.5m in total, as part of its policy of returning excess cash to investors ‘wherever practicable’.
Condensed article from The Arm Chair Trader link below
https://www.thearmchairtrader.com/braveheart-investment-group-share-price/