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CIP Merchant Capital (CIP)

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Tuesday 06 August, 2019

CIP Merchant Capital

Further Investment in Brave Bison Group plc

RNS Number : 0852I
CIP Merchant Capital Ltd
06 August 2019
 

6 August 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 a further investment in Brave Bison Group plc (AIM: BBSN) ("Brave Bison"), a social video company quoted on the AIM market of the London Stock Exchange.  The Company has acquired a further 7,500,000 ordinary shares of 0.1p each in Brave Bison ("Bison Shares") for a consideration of approximately £109k and now holds 43,832,550 Bison Shares, representing approximately 7.20 per cent. of Brave Bison's issued share capital.

 

In the year ended 31 December 2018, Brave Bison had revenues of £21.2 million, gross profit of £6.5 million, Adjusted EBITDA1 of £0.8 million, a net loss attributable to its shareholders of £71,000.  As at 30 June 2019, Brave Bison had cash and cash equivalents of £3.7 million and net assets of £4.3 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.


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