Acquisition of interest in Image Scan Holdings plc

19 December 2022

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

Acquisition of interest in Image Scan Holdings plc

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased 3,250,000 ordinary shares of one pence each in Image Scan Holdings plc ("ISH") at an average price of 1 pence per share for a total consideration of £32,500. Upon completion of the transaction, Braveheart will own 2.37 per cent. of the issued share capital of ISH.

ISH, the specialist supplier of X-ray screening systems to the security and industrial inspection markets, is an operating company whose ordinary shares are admitted to trading on AIM (AIM: IGE). In the year ended 30 September 2022, ISH incurred a loss before taxation of £349,523 and as at that date had audited net assets of £1,387,762.

3DX-RAY, the main trading subsidiary of Image Scan Holdings plc, supplies a range of portable, rapid deployment and static security solutions to the security sector worldwide including Government and private security organisations.

3DX-RAY's customers include police, military, security services, bomb disposal teams, prisons, ports, airports, cargo handlers, freight forwarders, corporate HQs, mail rooms and stadia and events operators. 

The Braveheart Board continues to seek investment opportunities, both within its existing portfolio and from outside. It considers ISH to be a company with medium term growth potential and an investment that fits well in its portfolio of advanced technology businesses.