Braveheart Investment Group PLC (LON:BRH) has disposed of its fund management arm Viking.
Payment is in stages, with £110,000 upfront and up to £170,500 to follow once a performance fee for an outstanding fund management contract is agreed.
Loans of £650,000 payable to Viking by Braveheart have also been forgiven.
Viking contributed profits of £404,000 in the year to March 2018, but fees have declined and profits have dropped to about £75,000 in the year just ended.
Braveheart said it will actively continue to run the fund management business even without Viking and will continue to tender for opportunities as and when they arise.