6 Aug 2019 10:45
6 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.