BRAVE BISON GROUP PLC

Regulatory Filings • Nov 21, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 2643U

CIP Merchant Capital Ltd

21 November 2019

21 November 2019

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Further Investment in Brave Bison Group plc

CIP Merchant Capital is pleased to announce that it has made a further investment in Brave Bison Group plc (AIM: BBSN) ("Brave Bison"), a social video company quoted on AIM market of the London Stock Exchange. The Company has acquired a further 28,013,857 ordinary shares of 0.1p each in Brave Bison ("Bison Shares") for a consideration of, in aggregate, approximately £396k and now holds 71,846,407 Bison Shares, representing approximately 11.7 per cent. of Brave Bison's issued share capital.

Brave Bison, in the year ended 31 December 2018, had revenues of £21.2 million (£10.1 million in the first half of 2019), gross profit of £6.5 million (£3.4 million in the first half of 2019), Adjusted EBITDA[1] of £0.8 million (£0.25 million in the first half of 2019) and a net loss attributable to its shareholders of £70,000 (£1.1 million in the first half of 2019). As of 30 June 2019, Brave Bison had cash and cash equivalents of £3.7 million and net assets of £4.3 million. Currently, Brave Bison has a market capitalisation of approximately £7.8 million.

[1] Adjusted EBITDA is earnings before interest, taxes, depreciation and amortisation and excludes restructuring costs and share-based payments.

For further information, please contact:

Merchant Capital Manager Limited (Investment Manager) Marco Fumagalli Carlo Sgarbi	+41 91 225 25 60
Strand Hanson Limited (Financial & Nominated Adviser and Broker) Richard Tulloch / James Bellman	+44 20 7409 3494

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

---

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

ACQFEWFLFFUSELF