REG - CIP Merchant Capital Brave Bison Grp PLC - Further Investment in Brave Bison Group plc
RNS Number : 0852ICIP Merchant Capital Ltd06 August 20196 August 2019
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
Further Investment in Brave Bison Group plc
CIP Merchant Capital is pleased to announce a further investment in Brave Bison Group plc (AIM: BBSN) ("Brave Bison"), a social video company quoted on the AIM market of the London Stock Exchange. The Company has acquired a further 7,500,000 ordinary shares of 0.1p each in Brave Bison ("Bison Shares") for a consideration of approximately £109k and now holds 43,832,550 Bison Shares, representing approximately 7.20 per cent. of Brave Bison's issued share capital.
In the year ended 31 December 2018, Brave Bison had revenues of £21.2 million, gross profit of £6.5 million, Adjusted EBITDA1 of £0.8 million, a net loss attributable to its shareholders of £71,000. As at 30 June 2019, Brave Bison had cash and cash equivalents of £3.7 million and net assets of £4.3 million.
[1] Adjusted EBITDA is earnings before interest, taxes, depreciation and amortisation and excludes restructuring costs and share-based payments
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager)
Marco Fumagalli
Carlo Sgarbi
+41 91 225 25 60
Strand Hanson Limited (Financial & Nominated Adviser and Broker)
Richard Tulloch / James Bellman
+44 20 7409 3494
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDACQSSDSUMFUSELA
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