Braveheart Investment Group PLC (AIM:BRH) said it purchased a further stake in Aukett Swanke Group, the architectural services company.
According to a statement, it acquired 4,233,293 ordinary shares at a price of 1.88p per share, the mid-market closing price on 30 August 2022, for a total consideration of £79,585.91.
Upon completion of the transaction, the investment group will own a 10.91% stake in Aukett Swanke.
Braveheart said the consideration will be satisfied via the issue of 740,334 new ordinary shares in Braveheart, with a price of 10.75p per share, also its close mid-market price on 30 August.
Following admission, which is expected on 7 September, it will have 56,404,416 ordinary shares each with one voting right.
Braveheart bought its initial holding in Aukett Swanke about a month ago from Braveheart CEO Trevor Brown.