Brave Bison Group (BBSN)

Sector:

IT Services

Index:

FTSE AIM All-Share

2.20p
   
  • Change Today:
    -0.20p
  • 52 Week High: 2.88p
  • 52 Week Low: 1.53p
  • Currency: UK Pounds
  • Shares Issued: 1,288.15m
  • Volume: 3,388,357
  • Market Cap: £28.34m

Mission rejects 'opportunistic' Brave Bison approach

By Abigail Townsend

Date: Thursday 06 Jun 2024

LONDON (ShareCast) - (Sharecast News) - The Mission Group has rejected a revised "opportunistic" takeover approach from Brave Bison, it confirmed on Thursday, arguing that it undervalues the business.
Brave Bison, a digital marketing agency, first approached AIM-listed rival Mission with a 29p per share offer early in May, before revising its offer. The current proposal values Mission shares at around 35.2p and the group at £32.3m.

But on Thursday Mission said that following a period of consultation with advisors and some shareholders, the board had unanimously rejected the revised offer.

It said the board believed the offer was "opportunistic and undervalues the group and its prospects".

"Moreover, it is dilutive to Mission's shareholders as it does not reflect the relevant contributions of each part to the proposed combined group."

Under the terms of the deal, Mission shareholders would hold around 50% of the proposed combined group.

In addition, Mission said the revised proposal did not provide a "step change in scale, or any new offering or access to new markets", and that Brave Bison's management had failed to set out a "compelling" strategy for the combined business.

As at 1115 BST, shares in Mission were down 3% at 27.04p, while Brave Bison was largely flat at 2.44p.

Brave Bison, which is backed by financier Michael Ashcroft, has yet to comment.

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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 2.20p
Change Today -0.20p
% Change -8.33 %
52 Week High 2.88p
52 Week Low 1.53p
Volume 3,388,357
Shares Issued 1,288.15m
Market Cap £28.34m

BBSN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.86% above the market average8.86% above the market average8.86% above the market average8.86% above the market average8.86% above the market average
83.13% above the sector average83.13% above the sector average83.13% above the sector average83.13% above the sector average83.13% above the sector average
Price Trend
14.12% above the market average14.12% above the market average14.12% above the market average14.12% above the market average14.12% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average
Income Not Available
Growth
65.35% above the market average65.35% above the market average65.35% above the market average65.35% above the market average65.35% above the market average
32.53% above the sector average32.53% above the sector average32.53% above the sector average32.53% above the sector average32.53% above the sector average

BBSN Dividends

No dividends found

Trades for 15-Jul-2024

Time Volume / Share Price
16:35 6,672 @ 2.20p
16:35 488 @ 2.20p
16:35 6,184 @ 2.20p
16:24 170,394 @ 2.23p
15:41 8 @ 2.30p

BBSN Key Personnel

CFO Philippa Norridge

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