Last checked at 16 Jul 2010 07:00
16 July 2010
Braveheart Investment Group plc
Realisation of Investment
Braveheart (AIM: BRH), the technology commercialisation and investment management company, today announces that it has realised its investment in one of its portfolio companies, Im-Sense Ltd, as a result of the acquisition of that company by an undisclosed trade buyer for a cash consideration.
Braveheart acquired its minority shareholding in Im-Sense, an image signal processing technology spin-out from the University of East Anglia, in June 2008 for a cost of £150,000 and will receive a cash consideration from the disposal of its investment of £342,000. The sale proceeds will be reinvested in new opportunities or used for working capital purposes.
A number of Braveheart's investment clients also realised their shareholding in Im-Sense on the same terms.
This transaction is in line with Braveheart's investment policy to make and ultimately realise investments primarily in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP.
Geoffrey Thomson, Braveheart CEO said: "Since we listed in March 2007 we have, as planned, spent a large part of the IPO proceeds on our portfolio. We deal principally with early stage technology companies and these types of businesses take time to mature and generate returns for shareholders. After three years our portfolio is maturing in line with expectation and we are pleased to announce our first profitable exit made from the proceeds of the IPO. There are more and better exits to come and we expect that subject to the market being receptive, we will be realising a number of investments over the next two years and that shareholders will be pleased with the results."
For further information please visit www.braveheartinvestmentgroup.co.uk or contact:
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Braveheart Investment Group |
Tavistock Communications (for Braveheart) |
| Geoffrey Thomson, Chief Executive | James Midmer / Simon Hudson |
| Tel: 01738 587555 | Tel: 020 7920 3150 |
| gthomson@braveheart-ventures.co.uk | jmidmer@tavistock.co.uk |
|
| shudson@tavistock.co.uk |
| Seymour Pierce Limited |
|
| John Cowie |
|
| Tel: 020 7107 8000 |
|
Notes to Editors
Braveheart Investment Group is a technology commercialisation and investment management company based in Perth, Scotland. It was founded in 1997 by a small group of investors in order to encourage and syndicate investments in privately held companies that offered opportunities for significant growth. Thirteen years on, Braveheart is a public company with offices in Perth, London and Yorkshire, and a demonstrable track record in early stage technology investing, as well as an established client base of high net worth individuals. Service offerings include bespoke EIS portfolios, fund management, investment facilitation and management services.
Investments are made in young, emerging, unlisted companies where there is potential for significant growth through successful commercialisation of IP. Through close relationships with a number of leading universities and innovation centres Braveheart has access to a wide variety of emerging commercial opportunities at early stages. The Group currently has 28 companies in its equity portfolio.