Brave Bison Group PLC (BBSN) · 2026-10-27
Brave Bison Group PLC’s unsolicited bid for System1 has lapsed after it failed to meet its acceptance condition, ending the proposed acquisition. System1 said it will remain independent and continue executing its strategy.
Brave Bison Group PLC (BBSN) · 2026-10-26
As at 3.00 p.m. on 23 October 2026, Brave Bison Group PLC could count 40.16% of System1’s existing issued share capital towards its offer’s Acceptance Condition, including valid acceptances for 12.31%, but this does not establish completion or control. It says the Final Offer’s financial terms are final, subject to specified exceptions.
Brave Bison Group PLC (BBSN) · 2026-10-23
Brave Bison Group PLC can count 35.95% of System1’s existing issued share capital towards its Offer’s Acceptance Condition, including 8.10% in valid acceptances, but commitments over a further 3.87% remained outstanding.
Brave Bison Group PLC (BBSN) · 2026-10-22
Brave Bison Group PLC could count 35.60% of System1’s existing issued share capital towards its offer’s Acceptance Condition as at 21 October 2026, but some acceptances may already be covered by prior commitments.
Brave Bison Group PLC (BBSN) · 2026-10-21
Brave Bison Group can count 35.20% of System1’s issued share capital towards its Offer Acceptance Condition, but it cannot yet determine whether some or all of 579,177 acceptances are already covered by existing commitments.
Brave Bison Group PLC (BBSN) · 2026-10-20
Brave Bison Group can count approximately 35.20% of System1’s existing issued share capital towards its offer’s Acceptance Condition, but it cannot yet verify whether most reported acceptances overlap with prior commitments.
Brave Bison Group PLC (BBSN) · 2026-10-16
Brave Bison Group’s live offer for System1 can count 27.96% of System1’s existing issued share capital towards its Acceptance Condition, while its ownership, acceptances, irrevocable undertakings and letters of intent total 39.67%; the acquisition has not completed.
Brave Bison Group PLC (BBSN) · 2026-10-15
Brave Bison Group’s final offer for System1 faces entrenched target-board opposition, with System1 unanimously urging shareholders to reject it and take no action. The unchanged offer is 2.394 new Brave Bison shares, 180 pence cash and a Bison CVR per System1 share; the CVR could pay either 20 pence or zero.
Brave Bison Group PLC (BBSN) · 2026-10-07
Brave Bison’s fifth, final conditional System1 offer implies a £53.4m equity value, based on its 94p 20-day VWAP on 10 July 2026 and excluding the CVR; it is 13% above the prior offer but still requires acceptances above 50%.
Brave Bison Group PLC (BBSN) · 2026-10-02
Brave Bison’s System1 offer had received no valid acceptances by 1 October, although shares in which it was interested and letters of intent together represented 39.19% of System1’s issued share capital.
Brave Bison Group (BBSN) · 2026-09-16
Brave Bison's fourth offer for System1 was unanimously rejected as not representing fair value, leaving the proposed acquisition unresolved. The cash-and-shares proposal implied 328.9 pence per System1 share, a 1.8 per cent. discount to System1's 335.0 pence closing price.
Brave Bison Group plc (BBSN) · 2026-09-14
Brave Bison has raised its fourth offer for System1 to 360 pence per share, valuing the target at £47.5 million and comprising 135 pence cash plus 2.394 new shares. The bid remains conditional on acceptances exceeding 50 per cent of voting rights.
Brave Bison Group (BBSN) · 2026-09-10
Brave Bison's proposed acquisition of System1 faces unanimous rejection from System1's board, which says the terms are neither fair nor reasonable. The cash-and-shares offer implies 312.5 pence per System1 share, an 8.1 per cent discount to the 9 September closing price.
Brave Bison Group plc (BBSN) · 2026-07-30
Brave Bison Group plc has offered System1 shareholders 135p in cash and 2.04 new Brave Bison shares for each System1 share, implying 327p per share and an equity value of approximately £43.1m. The offer remains conditional on acceptances taking Brave Bison above 50% of System1 voting rights and admission of the new shares to AIM.
Brave Bison Group (BBSN) · 2026-07-13
Brave Bison said a possible offer for System1 would pay 68 pence in cash and 2.7553 new Brave Bison shares per System1 share. The proposal values System1 at £43.1 million and would leave System1 holders with about 19% of the enlarged group if accepted in full.
Brave Bison Group (BBSN) · 2026-07-08
Brave Bison said H1 net revenue was ahead of budget and Board expectations, with full-year profitability still in line with previous guidance. Net revenue rose 97% to GBP23.7m and adjusted EBITDA increased 87% to GBP4.2m.
Brave Bison Group plc (BBSN) · 2026-06-17
Brave Bison said first-half 2026 net revenue rose by at least 92% to not less than £23 million, with adjusted EBITDA in line with expectations. Cash generation left the group in a substantial net cash position, but trading remains weighted to the second half.