AGM Statement

RNS Number : 5490Q

Brave Bison Group PLC

29 June 2022

 

29 June 2022

 Brave Bison Group plc

("Brave Bison" and the "Company")

AGM Statement

Brave Bison, the social and digital media company, announces that at the Annual General Meeting of Brave Bison to be held at 10am today, Oliver Green, Executive Chairman, will make the following statement:

"We are pleased to report that trading in the first five months of 2022 has been strong and ahead of management expectations, with management's focus now having shifted firmly to maintaining the positive momentum through the second half of the year and into 2023.

Whilst we are paying close attention to macroeconomic headwinds, we remain confident in our strategy of combining digital media and marketing services businesses with an owned and operated digital media network. We believe that a recessionary environment will accelerate the shift away from traditional advertising methods such as TV and Outdoor and into digital channels where it is much easier to demonstrate how campaigns are driving outcomes and sales.  As such, our management team is focussed on delivering the six key tenets of our business plan. By way of reminder:

1. Relaunching our trade brand. This initiative will bring together the three acquisitions we have made under a single Brave Bison brand, enhancing our ability to cross and upsell to our existing customers and increase revenue per customer.

2. Growing our Digital Media Network. We have seen good success over the past 12 months, particularly on YouTube and Snapchat, and we are winning new channels and shows on a monthly basis. Brave Bison's Digital Media Network is a key point of differentiation when working with customers and we are keen to expand our footprint in this growing market.

3. Implementing our Distributed Operating Model. Brave Bison currently employs or contracts a quarter of its staff outside the UK, and new roles are currently open in multiple territories across Europe and South Africa. Our HQ will be in London for the foreseeable future, but we seek to hire the best professionals unconstrained by physical location, widening our access to talent.

4. Making tactical bolt-on acquisitions. Brave Bison is profitable and cash generative, allowing us to make targeted acquisitions. We are seeing an increase in potential opportunities and our pipeline is robust.

5. Reducing fixed costs. Non-people overheads, particularly property and IT, will be right sized over the next 12 to 18 months with a positive impact on operating margins.

6. Developing our Board, governance and IR strategy. We are actively looking to further strengthen our Board with the appointment a new non-executive director.  Further, we are taking steps to improve our financial, ESG and governance reporting as well as being in regular communication with new and existing shareholders.

We thank you for your continued support and look forward to updating shareholders further in a scheduled trading update in respect of H1 FY22 to be released in mid-July 2022 and on further progress throughout the year."

 

For further information please contact:

Brave Bison Group plc

Oliver Green, Executive Chairman  via Cenkos

Theo Green, Chief Growth Officer

Philippa Norridge, Chief Financial Officer

Cenkos Securities plc   Tel: [phone]

Nominated Adviser & Broker

Nicholas Wells

Ben Jeynes

About Brave Bison

Brave Bison (AIM: BBSN) is a social and digital media company, headquartered in London with a globally distributed workforce across eight countries.

Brave Bison is unique in that it is both a digital media owner, as well as a digital media agency. The Company owns and operates its own channels, and the communities attached to them, as well as offering customers a suite of advertising services to help reach digital audiences.

Brave Bison has two core lines of business. Firstly, the publishing of content on social media channels to generate advertising revenue. Brave Bison operates over 650 channels including PGA Tour and US Open on YouTube, Cooking Wild and DIY & Crafts on Facebook and Slick and VSatisfying on Snap Discover.

The second line of business involves the execution of social and digital advertising campaigns for global, blue-chip brands such as Panasonic, New Balance, Primark, Vodafone and Samsung.

The Company operates through three divisions: Brave Bison Social & Influencer, a social advertising practice, Brave Bison Commerce, a digital commerce business, and Brave Bison Performance, a paid and organic digital media practice.

This announcement contains inside information.

 

END

 

 

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