Braveheart Investment Group plc Acquisition of further interest in Autins Group
June 26 2024 - 9:03AM
RNS Regulatory News
RNS Number : 0105U
Braveheart Investment Group plc
26 June 2024
26 June 2024
Braveheart Investment Group Plc
("Braveheart", the "Company" or the "Group")
Acquisition of further interest in Autins
Group plc
Braveheart Investment
Group (AIM: BRH), announces an update on recent purchases
of shares by Braveheart in one of its portfolio companies, Autins
Group plc ("Autins").
Between 15 March 2024 and 25 June 2024, the Company has purchased a
further 1,930,000 ordinary shares in Autins at an average price of
10.24 pence per share for a total cash consideration of £197,600,
details of which are set out below. Following these purchases,
Braveheart now holds 26.95% per cent. of the issued share capital
of Autins.
|
Date Of
Purchase
|
No. of Autins Shares
Purchased
|
Price (£)
|
Consideration
(£)
|
|
15 March
2024
|
300,000
|
£ 0.080
|
£24,000
|
|
5 April
2024
|
420,000
|
£ 0.089
|
£37,380
|
|
19 April
2024
|
85,000
|
£ 0.100
|
£8,500
|
|
23 April
2024
|
165,000
|
£ 0.110
|
£18,150
|
|
8 May
2024
|
250,000
|
£ 0.100
|
£25,000
|
|
31 May
2024
|
100,000
|
£ 0.117
|
£11,700
|
|
28 May
2024
|
110,000
|
£ 0.117
|
£12,870
|
|
25 June
2024
|
500,000
|
£ 0.120
|
£60,000
|
Autins' shares are admitted to
trading on AIM (AIM: AUTG) and the company specialises in solving
acoustic and thermal problems in the automotive industry and other
specialist applications. The growth of electric vehicle production
has created new opportunities for Autins who now supply vehicle
producers including: JLR, Nissan, BMW, Aston Martin, Lotus,
Lamborghini and Bentley; as well as Tier 1 automotive suppliers:
Draxlmaier, Kasai, Treves, Novares, Mergon and Yangfeng. In the
year ended 30 September 2023, Autins made a loss before tax of
£1.04 million on revenue of approximately £22.7 million with net
assets of approximately £10.8 million.
The Board continues to seek
investment opportunities, both within its existing portfolio and
from outside. The Braveheart Board considers this investment to be
a strategic investment and thus an important addition to the
Group's portfolio.
For further information:
|
Braveheart Investment Group plc
|
Tel: 01738 587555
|
|
Trevor Brown, Chief Executive
Officer
Viv Hallam, Executive
Director
|
|
|
|
|
|
Allenby Capital Limited (Nominated Adviser and Joint
Broker)
|
Tel: 020 3328 5656
|
|
James Reeve / George
Payne
|
|
|
|
|
|
Peterhouse Capital Limited (Joint
Broker)
|
Tel: 020 7469 0936
|
|
Duncan Vasey / Lucy
Williams
|
|
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