24 May 2024
Brave Bison Group
plc
("Brave
Bison" or the "Company", together with its subsidiaries "the
Group")
Annual Report, Notice of
Annual General Meeting and Proposed Capital
Reduction
Brave Bison, the digital advertising
and technology services company, announces that notice convening
the Company's Annual General Meeting (the "AGM") for 10am on 19
June 2024 at Gridiron Building, 1 Pancras Square, Kings Cross, N1C
4AG was today published together with the Company's 2023 Annual
Report.
The notice of AGM and the 2023
Annual Report will shortly be available from the Company's website
at https://bravebison.com/investors/.
Proposed Capital
Reduction
At the AGM, resolutions will be put
to shareholders to, inter alia, enable the Company to undertake a
reduction of capital.
The Company is proposing to
undertake a reduction of capital approved by the Court to create
additional distributable reserves. The proposal achieves this by:
(a) cancelling the balance standing to the credit of the share
premium account and the capital redemption reserve of the Company;
and (b) capitalising a historical merger relief reserve from
previous corporate activity through the issue and subsequent
cancellation of B Ordinary Shares (the "Capital
Reduction).
The Capital Reduction, if approved
by Shareholders and confirmed by the Court, is expected to increase
the distributable reserves of the Company by
£158,379,042.
If the Resolution is passed at the
General Meeting, the Company intends to apply to the Court for
confirmation of the Capital Reduction. The Capital Reduction will
only become effective if the Resolution is passed by Shareholders
at the General Meeting, the Court confirms the Capital Reduction
and the order of the Court confirming the Capital Reduction is
delivered to, and registered by, the Registrar of Companies in
England and Wales.
The Capital Reduction, if approved,
would create distributable reserves that would give the Company
further flexibility to deliver shareholder returns over the coming
years either in the form of dividends or purchases of the Company's
own shares. It is important to note that the Directors view the
Capital Reduction as an enabling step and there is no current
intention to either pay a dividend or buy back shares. However the
Board intends to keep both options under review and wishes to be
able to proceed with either course of action if this is thought to
be in shareholders interests.
AGM
attendance
The Company understands and respects
the importance of the AGM to shareholders and the board of
Directors greatly values the opportunity to meet shareholders in
person. Shareholders are asked, whether or not they propose to
attend the AGM in person, to exercise their votes by submitting
their proxy electronically via their Signal Shares account in
advance of the Meeting and to appoint the Chair of the AGM as their
proxy with their voting instructions.
Shareholders may also wish to submit
questions in advance via e-mail to companysecretary@bravebison.com.
We will endeavour to respond to questions raised directly, or by
publishing responses on our website.
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: +44 (0) 20 7220 0500
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.