Braveheart Investment Group (BRH)

Sector:

Financials

Index:

FTSE AIM All-Share

33.00p
   
  • Change Today:
      1.00p
  • 52 Week High: 128.50
  • 52 Week Low: 16.60
  • Currency: UK Pounds
  • Shares Issued: 52.24m
  • Volume: 1,682,931
  • Market Cap: £17.24m
  • Beta: 0.00

Braveheart raises £2.5m for development at Paraytec

By Josh White

Date: Friday 13 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Braveheart Investment Group announced a £2.5m fundraising on Friday, which would help to fund its Paraytec investment in its development of its Covid-19 testing instrument.
The AIM-traded firm said the funds were being raised in a placing of 13,888,889 new shares at a price of 18p each.

It said the placing shares would represent around 26.59% of its enlarged issued share capital.

The placing share price was a discount of about 20.88% to the closing mid-market share price of an existing share on 12 August.

Braveheart said it had used its existing authority to issue new shares for cash on a non-pre-emptive basis.

Chief executive officer Trevor Brown subscribed for 3,500,000 placing shares, and Free Association Books - a company connected to Brown - subscribed for 4,500,000 shares.

Executive director Vivian Hallam, meanwhile, subscribed for 833,333 shares in the placing.

Braveheart said it would use the net proceeds of £2.42m to enable it to accelerate the development of Paraytec's Covid-19 testing instrument, by taking direct control of the final design and engineering packages.

At the same time, Paraytec would seek partners for licensing and development, or a potential sale.

The board said it believed that strategy should enable Paraytec to deliver a finished product to market directly if it failed to find a satisfactory deal with a third party.

"We are delighted to have been able to raise this extra funding which will enable Paraytec to pursue its new strategy," said Trevor Brown.

At 0921 BST, shares in Braveheart Investment Group were up 5.49% at 24p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BRH Market Data

Currency UK Pounds
Share Price 33.00p
Change Today 1.00p
% Change 3.13 %
52 Week High 128.50
52 Week Low 16.60
Volume 1,682,931
Shares Issued 52.24m
Market Cap £17.24m
Beta 0.00

BRH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.47% above the market average28.47% above the market average28.47% above the market average28.47% above the market average28.47% above the market average
21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average21.21% above the sector average
Price Trend
34.32% below the market average34.32% below the market average34.32% below the market average34.32% below the market average34.32% below the market average
31.43% below the sector average31.43% below the sector average31.43% below the sector average31.43% below the sector average31.43% below the sector average
Income Not Available
Growth
24.20% above the market average24.20% above the market average24.20% above the market average24.20% above the market average24.20% above the market average
13.33% above the sector average13.33% above the sector average13.33% above the sector average13.33% above the sector average13.33% above the sector average

BRH Dividends

  Latest Previous
  Special Final
Ex-Div 10-Dec-20 19-Sep-19
Paid 06-Jan-21 11-Oct-19
Amount 42.75p 0.50p

Trades for 15-Oct-2021

Time Volume / Share Price
16:29 25,000 @ 33.70p
16:28 25,000 @ 33.70p
16:28 9,189 @ 32.75p
16:26 25,000 @ 33.56p
16:21 40,000 @ 32.45p

BRH Key Personnel

CEO Trevor Brown

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