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pre-acquisition legacy contracts have now ended and been replaced
by high value influencer marketing revenue that has transformed the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: +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.