Braveheart takes Autins stake to over 23pc

6th Mar 2024 13:56

(Sharecast News) - Braveheart Investment Group announced a significant increase in its ownership stake in Autins Group on Wednesday.

The AIM-traded firm said that between 4 March and 5 March, it acquired an additional four million shares in Autins at an average price of 8p each, totaling a £0.32m investment.

It said the purchase brought its total ownership in Autins to 23.42%.

Autins specialises in developing solutions for acoustic and thermal challenges within the automotive industry and other specialised sectors.

The company's clientele includes major vehicle manufacturers such as Jaguar Land Rover, Nissan, BMW, Aston Martin, Lotus, Lamborghini and Bentley, alongside tier-one automotive suppliers.

Despite reporting a loss before tax of £1.04m on £22.7m in revenue for the year ended 30 September, the firm's net assets stood at around £10.8m.

Braveheart said it was continuing to actively pursue new investment opportunities to expand its portfolio.

At 1046 GMT, shares in Braveheart Investment Group were down 1% at 7.92p.

Reporting by Josh White for Sharecast.com.