Braveheart Investment Group plc Fund Management Division Update (3113K)
December 13 2018 - 1:00AM
UK Regulatory
TIDMBRH
RNS Number : 3113K
Braveheart Investment Group plc
13 December 2018
13 December 2018
Braveheart Investment Group plc
("Braveheart" or the "Company")
Fund Management Division Update
Braveheart Investment Group plc (AIM:BRH) ("the Company"), the
fund management and strategic investor group, is pleased to provide
an update regarding it's fund management business.
The Board has recently been approached by a number of third
parties, each of whom have expressed an interest in either
purchasing outright our fund management business or entering into
some form of a joint ownership arrangement. All of these
discussions are at an early stage, and there can be no certainty
that they will proceed to a transaction being completed. It is
unclear at this stage what form of transaction, if any, will be
agreed upon. We will pursue all these discussions and provide
further updates as and when appropriate.
In the interim results for the six months ended 30 September
2018, which were announced on 30 October 2018, it was stated that
the Company planned to launch of a new mezzanine fund, the Viking
Mezzanine Fund, during the first quarter of the 2019 calendar year.
It was intended that the Viking Mezzanine Fund was to be launched
with a large UK financial organisation providing 40% of the total
fund. However, by mutual agreement, it has been decided that the
launch will not now proceed. The Board remains of the view that
there is sufficient appetite to launch a mezzanine fund in the
future but has decided to suspend further development on this
project pending an outcome of the various approaches referred to
above.
For further information:
Braveheart Investment Group plc Tel: 01738 587555
Viv Hallam, Executive Director
Tel: 020 3328 5656
Allenby Capital Limited (Nominated Adviser
and Joint Broker)
David Worlidge / Nicholas Chambers
Tel: 020 7469 0936
Peterhouse Capital Limited (Joint Broker)
Heena Karani / Lucy Williams
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END
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