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Braveheart Investment purchases 3.25mln ordinary shares in Image Scan Holdings

Published 19/12/2022, 09:35
Updated 19/12/2022, 09:40
Braveheart Investment purchases 3.25mln ordinary shares in Image Scan Holdings

Braveheart Investment purchases 3.25mln ordinary shares in Image Scan Holdings

Proactive Investors - Braveheart Investment Group PLC said it has purchased 3.25mln ordinary shares in Image Scan Holdings PLC at an average price of 1p per share for a total consideration of £32,500.

Upon completion of the transaction, Braveheart will own 2.37% of the issued share capital of Image Scan, an AIM-listed specialist supplier of X-ray screening systems to the security and industrial inspection markets.

Braveheart said its board continues to seek investment opportunities, both within its existing portfolio and from outside. It considers Image Scan to be a company with medium-term growth potential and an investment that fits well in its portfolio of advanced technology businesses.

In the year ended 30 September 2022, Image Scan incurred a loss before taxation of £349,523 and as of that date had audited net assets of £1,387,762.

3DX-RAY, the main trading subsidiary of Image Scan, supplies a range of portable, rapid deployment and static security solutions to the security sector worldwide including Government and private security organisations.

3DX-RAY's customers include police, military, security services, bomb disposal teams, prisons, ports, airports, cargo handlers, freight forwarders, corporate HQs, mail rooms and stadia and events operators.

Read more on Proactive Investors UK

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