Braveheart announces that on 16 and 17 November 2020, it sold a total of 287,400,000 ordinary shares in Remote Monitored System plc (“RMS”) at a weighted average price of approximately 3.923 pence per share, realising gross proceeds of £11,274,998.
The Board will consider a variety of options for the use of the net proceeds and will inform shareholders in due course and as appropriate.
Following these sales, Braveheart holds 112,592,405 RMS shares, representing approximately 7.11% per cent. of the voting rights of RMS.
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 £711,942 and as at that date had net liabilities of £19,250. As at 30 June 2020 had unaudited net assets of £674,135.
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