Braveheart Investment Group plc announced that it intends to apply to Companies House to change the company’s name to Truetide plc.

The firm said: “When the company joined the AIM Market in 2007, the business was focused on investment management for private clients and universities based in Scotland, its team and offices were in Perth. ‘Braveheart’ generated a strong marketing call to Scots at the time, but today, the business no longer has that connection with Scotland and moved away from the private client market.”

Braveheart’s share price has fallen about 90% over the past five years, slashing its stock market value to a mere £1.8 million.

The firm is now based in Barnsley. Its directors are Trevor Brown, Vivian Hallam, Sue Hagan and Qu Li.

“Today, Braveheart makes equity based investments from its balance sheet into listed and unlisted companies, predominantly within the technology sector,” added the firm.

“The board has therefore decided that it is time to reflect that change and move to the new name of Truetide plc.

“Following the name change becoming effective, the company’s ordinary shares will trade under the new stock ticker, ‘TRUE’.

“A further announcement will be made when the name change becomes effective; until such time, trading will continue under the ‘BRH’ stock ticker.”