05 October 2022
Braveheart Investment Group Plc
("Braveheart", the "Company" or the "Group")
Acquisition of further interest in Aukett Swanke Group plc
Braveheart Investment Group (AIM: BRH), is pleased to announce that it has purchased a further 13,728,486 ordinary shares of one pence each in Aukett Swanke Group plc ("ASG") at an average price of 2.416 pence per share for a total consideration of £331,734.36. Upon completion of the transaction, Braveheart will own 19.37 per cent. of the issued share capital of ASG.
ASG is an operating company whose ordinary shares are admitted to trading on AIM (AIM: AUK). In the year ended 30 September 2021, ASG incurred a loss before taxation of £1,531,000 and as at 31 March 2022 had unaudited net assets of £2,631,000.
ASG is a professional services group that principally provides architectural and interior design services in the primary international market sectors of offices, residential, education, industrial, hospitality and mixed use or 'hybrid' developments. It has two principal UK subsidiaries, Aukett Swanke Limited and Veretec Limited as well as a network of offices in Abu Dhabi, Al Ain, Berlin, Dubai, Frankfurt, Istanbul, London,Prague and Moscow .
The Board continues to seek investment opportunities, both within its existing portfolio and from outside. It considers ASG to be a company with medium term growth potential and an investment that fits well in its portfolio of advanced technology businesses.
| For further information: | ||||||||||||||||||
|
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
