Last checked at 13 Sep 2017 07:00
Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.
13 September 2017
Braveheart Investment Group plc
("Braveheart" or "the Company")
Update re. Portfolio investment
Braveheart Investment Group plc (AIM: BRH), the fund management and strategic investor group, announces that one of its Strategic Investments, Kirkstall Limited, a biotechnology company operating within the global organ-on-a-chip market, has commenced an investor marketing exercise. The board of Kirkstall is seeking to raise up to £2.5 million in a private placing at a pre-money valuation of £5.6 million.
Braveheart currently holds 43.36 per cent. of the issued share capital (37.65 per cent. on a fully diluted basis) and its carrying value in the consolidated balance sheet as at 31 March 2017 was £287,000, the original cost price of the investment. Braveheart does not currently intend to participate in the placing.
There can be no certainty that the fundraising by Kirkstall Limited will be completed, how much will be raised or, if a placing is completed, at what pre-money valuation the placing will be effected at.
A further announcement will be made in due course.
Further information:
Braveheart Investment Group plc
Trevor Brown, Chief Executive Tel: +44 1738 587555
Allenby Capital Limited (Nominated Adviser and Broker to Braveheart)
David Worlidge / James Thomas Tel: +44 20 3328 5656