Braveheart announces that on 18 November 2020, it sold a total of 112,592,405 ordinary shares in Remote Monitored System plc (“RMS”).
At a weighted average price of approximately 2.66 pence per share, realising gross proceeds of approximately £2,998,000. 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 no longer holds any RMS shares.
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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