Brave Bison Group PLC New Financing Facility (4376F)
07 November 2022 - 6:00PM
UK Regulatory
TIDMBBSN
RNS Number : 4376F
Brave Bison Group PLC
07 November 2022
07 November 2022
Brave Bison Group plc
("Brave Bison" or "the Company")
New Financing Facility
Brave Bison Group plc (AIM: BBSN), the social and digital media
company, announces that it has entered into an agreement with
Barclays Bank plc for a new GBP3mn revolving credit facility
("RCF"). The RCF is a three-year facility with an interest margin
of 2.75% over Base Rate.
Brave Bison is already well capitalised. The Company reported
gross cash of GBP5.4mn and net cash (excl. leases) of GBP4.8mn as
at 30 June 2022. The RCF will provide additional resources with
which to pursue Brave Bison's strategy of acquiring complementary
businesses in the digital media, marketing and technology
industries.
Oliver Green, Chairman, commented:
"Brave Bison's diversified business model is now able to support
modest leverage of approximately 1x underlying earnings. For new
acquisitions we will be utilising our substantial cash balances in
the first instance, followed by RCF drawings as required. The more
challenging investment environment has reduced valuations across
the industry, and we are seeing a number of exciting and accretive
opportunities"
For further information please contact:
Brave Bison Group plc
Oliver Green, Chairman via Cenkos
Theo Green, Chief Growth Officer
Philippa Norridge, Chief Financial Officer
Cenkos Securities plc Tel: +44 (0)20 7397 8900
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 Curry's. These
customers are serviced through three divisions: Brave Bison Social
& Influencer, a social media advertising practice, Brave Bison
Commerce, a digital commerce practice, and Brave Bison Performance,
a paid and organic digital media practice.
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END
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