- Braveheart Investment Group [LON:BRH], the AIM-listed investment management group providing debt and equity capital to SMEs and servicing the investment requirements of business angels, high net worth individuals, family offices, and public sector organisations announces that it has sold Envestors, one of its subsidiaries, to a management buy-out team.

The sale follows the decision by the Braveheart Board to exit the business for the following reasons:

· Whilst Envestors has shown steady growth since its acquisition in 2010, it has not performed in line with expectations and has not contributed positively to the Group's financial performance. Furthermore, recent trading has been poor and the business has made significant losses due to high fixed costs; and

· Envestors provides corporate finance advisory services; as such there is little forward visibility on revenue, which in any case tends to be volatile. This model does not fit with the Group's strategy of building a business based on long-term contracted revenue.

Notwithstanding the sale of Envestors, the two businesses will continue to collaborate on certain initiatives for mutual benefit.

At 12:35pm: [LON:BRH] Braveheart Investment Group PLC share price was 0p at 15.5p

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