REG - Brave Bison Grp PLC - AGM Statement

Brave BisonAnnouncement

19/06/2024 07:00

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RNS Number : 8899S  Brave Bison Group PLC  19 June 2024

19 June 2024

 

 Brave Bison Group plc

 

("Brave Bison" and the "Company")

 

AGM Statement

 

Brave Bison, the digital advertising and technology services company, is
pleased to provide the following statement ahead of the Company's Annual
General Meeting to be held at 10am today.

 

Trading in the first five months of 2024 has been in line with expectations,
and the Board expects to report Adjusted Profit Before Tax for the six-month
period ending 30 June 2024 ahead of the prior year.

 

Brave Bison intends to release a trading update for the half-year period in
July 2024, followed by interim results in September 2024.

 

SocialChain, our social media advertising and influencer marketing practice,
has performed particularly well during the period. Several low-margin,
pre-acquisition legacy contracts have now ended and been replaced by high
value influencer marketing revenue that has transformed the profitability of
the practice and cemented the turnaround.

 

Furthermore, we are pleased to welcome a number of new clients across Brave
Bison. New engagements have been agreed with SharkNinja, Yours Clothing, The
Travel Corporation, Sony Pictures and Greene King. We continue to have an
exciting new business pipeline and have seen activity increase since the start
of the year.

 

Possible Offer for The Mission Group plc

 

On 13 May 2024, Brave Bison announced it was considering an offer to acquire
The Mission Group plc ("Mission") an AIM-listed digital marketing and
communications business. In its 2023 financial year, Mission reported revenues
of £86m, Adjusted EBIT of £6.5m and had over 1,100 employees at 31 December
2023.

 

However, the Mission Board did not engage constructively or provide due
diligence access, and Brave Bison ultimately walked away from the potential
transaction on 9 June 2024. Brave Bison is a disciplined acquirer and is not
willing to compromise on diligence criteria or access to key management
personnel. Abort costs from the potential transaction are expected to be no
more than £50k.

 

The Board would like to thank Brave Bison's shareholders and dedicated
employees for their continued support over the past 12 months, and looks
forward to updating further in the scheduled half-year trading update in July
2024.

 

For further information please contact:

 

Brave Bison Group plc 

Oliver Green, Executive Chairman
 
via Cavendish

Theo Green, Chief Growth Officer 

Philippa Norridge, Chief Financial Officer 

 

Cavendish Capital Markets Limited
 
Tel: +44 (0) 20 7220 0500

Nominated Adviser & Broker 

Ben Jeynes 

Dan Hodkinson 

 

About Brave Bison 

  

Brave Bison (AIM: BBSN) is a digital advertising and technology services
company, headquartered in London with a globally distributed workforce in over
ten countries. The Company provides services to global brand advertisers
through four business units. 

 

Brave Bison Performance is a paid and organic media practice. It plans and
buys digital media on platforms like Google, Meta, TikTok, Amazon and YouTube,
as well as providing search engine optimisation and digital PR services.
Customers include New Balance, Curry's and Asus.  

 

SocialChain is a social media advertising practice. It creates content for
social media platforms, and works with influencers to create and distribute
content. This creative approach ensures that content is more native to the
platform it is on, leading to higher engagements from its audience. Customers
include Holland & Barrett, The Army and General Mills.  

 

Brave Bison Commerce is a digital commerce practice. It builds complex
ecommerce platforms to support digital commerce operations. We are specialist
consultants in composable system architecture, the most advanced technology
available for enterprise customers. Customers include Furniture Village,
Fiskars and Winparts.  

 

Brave Bison Media Network is a portfolio of channels across YouTube, Facebook,
Snapchat, TikTok and Instagram. These channels generate over 1 billion monthly
views, and the advertising inventory from each channel is sold through online
advertising exchanges. Popular channels include The Hook, PGA Tour, US Open
and Link Up TV. 

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