Last checked at 3 Jul 2009 07:00
3 July 2009
Braveheart Investment Group plc
('Braveheart' or 'the Group')
Award of Options
Braveheart (AIM: BRH), the technology commercialisation and investment management company, announces that the directors and staff named below have been awarded the following new options over the Group's Ordinary Shares:
| Employment Based | Performance Based | Total | |
| Directors: | |||
| Geoffrey Thomson | 42,753 | 69,231 | 111,984 |
| Carolyn Smith | 31,669 | 41,538 | 73,207 |
| Colin Grant | 30,160 | 41,538 | 71,698 |
| Staff | 187,244 | 140,193 | 327,437 |
| Total | 291,826 | 292,500 | 584,326 |
The exercise price for the new options is 29.5p. The employment options will become exercisable on the third anniversary of grant and the performance options will become exercisable on the first anniversary following achievement of the performance condition.
The resulting aggregate options held are as below:
| Employment Based | Performance Based | Total | |
| Directors: | |||
| Garry Watson | - | 33,454 | 33,454 |
| Edward Cunningham | - | 13,360 | 13,360 |
| Geoffrey Thomson | 108,164 | 153,568 | 261,732 |
| Carolyn Smith | 79,051 | 92,140 | 171,191 |
| Colin Grant | 59,062 | 76,636 | 135,698 |
| Staff | 308,468 | 207,598 | 516,066 |
| Total | 554,745 | 576,756 | 1,131,501 |
For further information please visit www.braveheart-ventures.co.uk or contact:
| Braveheart Investment Group | Tavistock Communications |
| Geoffrey Thomson, Chief Executive | Simon Hudson / James Midmer |
| Tel: 01738 587555 | Tel: 020 7920 3150 |
| gthomson@braveheart-ventures.co.uk | shudson@tavistock.co.uk |
| Seymour Pierce Limited | |
| (Nominated Advisers to Braveheart) | |
| Richard Feigen/Catherine Leftley | |
| Tel: 020 7107 8000 |
Notes to Editors
Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. Since its formation in 1997 it has made the transition from start-up angel syndicate to fully listed company. Braveheart's shares listed on AIM in March 2007.
Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP and Braveheart enjoys close relationships with several universities to identify emerging technologies. Investments are predominantly technology-focused; however the Group also maintains limited exposure to more traditional businesses.
Braveheart's diverse portfolio currently comprises over 30 companies and it has completed over 80 deals in its eleven year history, including six IPOs, three trade sales and eight write-offs and has an exit IRR of 33%.
At the 2008 Ernst & Young Entrepreneur of The Year Awards (Scotland) Braveheart CEO Geoffrey Thomson was given a special award recognising his contribution and support of emerging technology businesses in Scotland over the past decade.
On 8 June 2009 the Group announced the acquisition of Inkopo Limited. This acquisition, based principally on an earn-out consideration, gives the Group an established presence in Yorkshire, an additional revenue stream and further complementary income from investment facilitation and management activities.