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IN BRIEF: Brave Bison completes equity raise for MiniMBA acquisition

ALN

Brave Bison Group PLC - London-based digital advertising technology - Executive Chair Oliver Green and Chief Growth Officer Theo Green subscribe for 714,285 shares via Greenspan Investments Ltd at 49 pence, worth £350,000, as part of Brave Bison’s equity raise to fund its acquisition of Mini Trading Co Ltd. Brave Bison late last month agreed to buy the company, which trades as MiniMBA, from Centaur Media PLC for an enterprise value of £19.0 million. To part fund the purchase, Brave Bison conducted a 20-into-1 share consolidation and launched a placing and subscription for 27.6 million new shares at 49p to raise £13.5 million. The Greens now have a 14.1% stake. Mark Ritson, the founder of MiniMBA, also took part in the equity raise, investing £2.0 million. Ritson will invest a further £2.0 million within two years and then will have a 5.8% stake in Brave Bison.

Current stock price: 61.00 pence, up 24% from offer price

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