LONDON, UK: Braveheart Investment Group (AIM: BRH) has purchased a further 2.3 million ordinary shares of two pence each in Autins Group plc at an average price of 7 pence per share for a total consideration of £161,000. Upon completion of the transaction, Braveheart will own 12.91 per cent of the issued share capital of Autins Group.
In the year ended 30 September 2021, Autins made a loss before tax of £1.18 million on revenue of £23.4 million and as at 31 March 2022 had unaudited net assets of approximately £14.2 million.
Autins Group, an AIM listed company, specialises in solving acoustic and thermal problems in the automotive industry and other specialist applications. Set up in 1966 as Automotive Insulations, the company became well known within the automotive sector for manufacturing parts for the original Mini.
The Board continues to seek investment opportunities, both within its existing portfolio and from outside. The Braveheart Investment Board considers this investment to be a strategic investment and thus an important addition to the Group’s portfolio.
Braveheart Investment Group makes strategic investments in companies expected to outperform. The group was formed in 1997 and since 2007 has been quoted on the Alternative Investment Market of the London Stock Exchange as ‘BRH.
Along with financial investment group also provide expert advice to the companies and help them make decisions around operations, strategy and risk.