Braveheart Investment Group plc Participation in RMS placing (7869S)

TIDMBRH

RNS Number : 7869S

Braveheart Investment Group plc

13 July 2020

13 July 2020

Braveheart Investment Group plc

("Braveheart" or "the Group")

GBP200,000 participation in placing effected by Remote Monitored Systems plc

Braveheart Investment Group (AIM: BRH), is pleased to announce that it has conditionally subscribed for 80,000,000 new ordinary shares of 0.2p nominal value each in Remote Monitored Systems plc ("RMS") at a price of 0.25p per share (the Subscription"). Admission of these new shares to AIM is expected to be on or around 17 July 2020.

As a result of this subscription, Braveheart will increase its holding in RMS to 199,637,590 shares, representing approximately 25.79% of the enlarged issued share capital and total voting rights of RMS. In addition, Braveheart holds 100,000 warrants over new ordinary shares in RMS which are exercisable at a price of 0.5 pence per share. The Subscription will be financed from the existing cash resources of the Company.

RMS is an operating company whose ordinary shares are admitted to trading on AIM. In the year ended 31 December 2019, RMS incurred a loss before taxation of GBP711,942 and as at that date had net liabilities of GBP19,250. As at 29 June 2020, the directors of RMS estimated that RMS had net cash of approximately GBP266,000. Earlier today, RMS announced that it had conditionally placed new shares to the value of GBP265,000, by the issue of 106,000,000 new shares at a price of 0.25p per share. In addition, RMS is issuing a further 6,950,000 new shares, also at 0.25p per share, in settlement of certain professional fees.

RMS has two trading subsidiaries, GyroMetric Systems Limited ("GyroMetric"), in which it owns a 58 per cent. interest, which develops and manufactures digital monitoring and safeguarding systems for rotating shafts and Cloudveil Limited ("Cloudveil"), an intelligence services and security risk management business, which was acquired in September 2019.

 
 For further information: 
 
   Braveheart Investment Group plc              Tel: 01738 
                                                 587555 
   Viv Hallam, Executive Director 
 
   Allenby Capital Limited (Nominated Adviser   Tel: [phone] 
    and Joint Broker)                            5656 
   David Worlidge / Nicholas Chambers 
 
   Peterhouse Capital Limited (Joint Broker)    Tel: [phone] 
                                                 0936 
   Heena Karani / Lucy Williams 
 

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July 13, 2020 02:18 ET (06:18 GMT)