AGM Statement

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 Several low-margin, pre-acquisition legacy contracts have now ended and been replaced by high value influencer marketing revenue that has transformed the profitability of the practice and cemented the turnaround.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: [phone] 

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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