Braveheart value rockets as coronavirus shines light on portfolio

Braveheart Investment Group makes strategic investments in companies it judges will outperform.

Along with financial investment the group also provides expert advice to the companies it backs and helps them make decisions around operations, strategy and risk.

Its aim is to return cash to shareholders while increasing the value of the shares.

Braveheart Investment Group PLC (AIM:BRH) has increased its holding car parts group Autins to 11.995% after the acquisition of 3.65mln shares at 22.02p, costing GBP803,750.

Previously Braveheart held a non-notifiable holding of 1.1mln shares and this additional purchase is a strategic investment and part of the group’s portfolio.

AIM-listed Autins was set up in 1966 when it made parts for the original Mini.

In the year ended 30 September 2020, Autins made a loss before tax of GBP1.76mln on revenue of GBP21.5mln and as of that date had net assets of GBP13.8 mln.

Braveheart Investment Group PLC (AIM:BRH) updated investors on portfolio companies PhaseFocus Holdings and Paraytec.

On the back of PhaseFocus reporting its highest ever sales in the first half of the year, Braveheart said it is working to seek an exit in the next 12 months, which could be at a valuation considerably in excess of the carrying value in its accounts.

Braveheart Investment Group PLC (AIM:BRH) said it has raised around GBP2.5mln in a share placing that it said will allow it to accelerate the development of a COVID-19 testing instrument by its subsidiary Paraytec.

The firm said it raised the funds through the placing of around 13.9mln new shares at a price of 18p each, a 20% discount to its closing price on Thursday.

Braveheart Investment Group PLC (AIM:BRH) (AIM:BRH) Trevor Brown comments on the recent raise of around GBP2.5mln in a share placing.

This will be used to ‘push forward quickly’ the development of a COVID-19 testing instrument by its subsidiary Paraytec.

The firm plans to take direct control of the final design and engineering packages, while Paraytec will continue to seek out partners for licensing and development as well as a potential sale.