Braveheart increases investment in Image Scan

Braveheart Investment Group announced on Wednesday that it has expanded its investment in Image Scan Holdings, a company within its portfolio that specialises in security imaging solutions.

The AIM-traded firm said that between 31 March and 2 August, it purchased 5.5 million ordinary shares in Image Scan at an average price of 1.74p each, totaling £95,550.

With the acquisition, Braveheart now holds an 8.45% stake in Image Scan.

The board said the AIM-listed Image Scan provides a variety of portable and static security solutions used globally by government and private security organisations.

For the financial year ended 30 September 2023, Image Scan reported a profit before tax of £96,577 on revenue of £2.96m, with net assets of around £1.39m as of 31 March this year.

“The board of Braveheart continues to seek investment opportunities, both within its existing portfolio and from outside,” the company said in its statement.

At 1355 BST, shares in Braveheart Investment Group were down 9.52% at 4.75p.

Reporting by Josh White for Sharecast.com.