Brave Bison Group (BBSN)

Sector:

IT Services

Index:

FTSE AIM All-Share

2.44p
   
  • Change Today:
      0.17p
  • 52 Week High: 3.05
  • 52 Week Low: 1.53
  • Currency: UK Pounds
  • Shares Issued: 1,288.15m
  • Volume: 1,837,708
  • Market Cap: £31.43m

CIP Merchant Capital puts another £1.25m into Brave Bison

By Josh White

Date: Monday 16 Aug 2021

LONDON (ShareCast) - (Sharecast News) - CIP Merchant Capital announced on Monday that it has conditionally agreed to invest a further £1.25m in Brave Bison, by participating in that company's proposed placing to raise £6.2m at a price of 1.35p per share.
The AIM-traded investment firm described Brave Bison as a "social media and marketing" group, which was seeking to acquire the entirety of Greenlight Digital and Greenlight Commerce for a total of £6.84m in cash and shares.

It said the proposed further investment was conditional on shareholder approval at a general meeting of Brave Bison on 31 August, and admission of the 455,555,560 shares to be issued under the placing to trading on AIM, which was expected on 1 September.

On completion of the placing, CIP would acquire a further 92.5 million Brave Bison shares for consideration of £1.25m, to give it a total shareholding of 164.35 million shares, representing around 15.3% of Brave Bison's enlarged issued share capital.

"CIP sees in the Acquisition a strong rationale given the transformational nature of the acquisition that is expected to be significantly earnings-accretive for Brave Bison in the current year and beyond," the CIP board said in its statement.

It noted that in the 2020 financial year, Greenlight generated revenue of £14.3m and adjusted EBITDA of £0.8m, approximately doubling the Brave Bison group's revenues on a pro-forma basis.

"The acquisition represents a strategic leap for Brave Bison through the acquisition of in-demand and high-growth digital-first capabilities, such as paid and organic media and e-commerce technology.

"The combination with Greenlight brings new talent, new services and new opportunities to the Brave Bison group, including further expansion into the Asia-Pacific region using Brave Bison's existing operations in Singapore as a beachhead."

Brave Bison, in the year ended 31 December, achieved revenue of about £14.5m, a gross profit of around £4m, and a loss before tax of £2.3m.

As at 30 June, Brave Bison had cash and cash equivalents of £3m, and net assets of £0.9m.

At 1427 BST, shares in CIP Merchant Capital were up 2.59% at 57.45p, while those in Brave Bison Group were down 5.26% at 1.8p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BBSN Market Data

Currency UK Pounds
Share Price 2.44p
Change Today 0.17p
% Change 7.25 %
52 Week High 3.05
52 Week Low 1.53
Volume 1,837,708
Shares Issued 1,288.15m
Market Cap £31.43m

BBSN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.74% below the market average15.74% below the market average15.74% below the market average15.74% below the market average15.74% below the market average
57.65% above the sector average57.65% above the sector average57.65% above the sector average57.65% above the sector average57.65% above the sector average
Price Trend
58.63% above the market average58.63% above the market average58.63% above the market average58.63% above the market average58.63% above the market average
55.32% above the sector average55.32% above the sector average55.32% above the sector average55.32% above the sector average55.32% above the sector average
Income Not Available
Growth
80.30% above the market average80.30% above the market average80.30% above the market average80.30% above the market average80.30% above the market average
68.18% above the sector average68.18% above the sector average68.18% above the sector average68.18% above the sector average68.18% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BBSN Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 11,217 @ 2.44p
16:35 11,217 @ 2.44p
14:19 25,000 @ 2.33p
13:50 100,000 @ 2.40p
13:49 250,000 @ 2.39p

BBSN Key Personnel

CFO Philippa Norridge

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