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viewBraveheart Investment Group

Braveheart to book £285,000 profit on LED Co.sale

The group has a 1.25% direct holding and 3.75% stake held through subsidiary Strathclyde Investment Fund.

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Braveheart Investment Group PLC (LON:BRH) has agreed to sell its 5% direct and indirect holding in mLED Limited to a large US based technology company.

The group has a 1.25% direct holding and 3.75% stake held through subsidiary Strathclyde Investment Fund.

Net proceeds from the sale will be £381,000 in cash compared to a book value of £96,000.

mLED specialises in ultra-high brightness technology  used in  Near-To-Eye, Head-Up-Display and Wearables products.

Completion is expected by early September, but by no later than early November. 

Shares in the fund manager rocketed on 29 July when Braveheart noted that one of its subsidiary companies had been approached but fell back today shedding 35% to 12.5p.

Quick facts: Braveheart Investment Group

Price: 34.5 GBX

AIM:BRH
Market: AIM
Market Cap: £11.97 m
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