Response to Press Speculation

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

3 November 2025

Brave Bison Group plc

("Brave Bison" or the "Company", together with its subsidiaries "the Group") 

Response to Press Speculation

Possible Acquisition of M+C Saatchi Performance

Brave Bison, the next-generation marketing and technology partner for global brands, notes recent press speculation and confirms that it has submitted a non-binding proposal to acquire the companies, trade and assets comprising M+C Saatchi Performance ("MCSP") from M&C Saatchi plc for an enterprise value of £50 million.

The intention of the Company would be to combine MCSP with Brave Bison's existing performance marketing operations to form a scaled digital media challenger to the global marketing networks. The combined business would be one of the largest independent performance marketing companies outside the US, with a market-leading presence in UK and APAC with no substantial regional overlap.

In the year ending 31 December 2024, the M&C Saatchi plc Media Division, of which MCSP accounts for the vast majority of net revenues, generated net revenue of £26.8 million and delivered growth of 8% year-on-year. Should the acquisition complete, MCSP would be expected to contribute a minimum of £8 million in Adjusted EBITDA, increasing the enlarged Brave Bison pro-forma Adjusted EBITDA by over 80% to £17 million.

Completion of the potential acquisition would be expected to be materially accretive to underlying Group earnings per share on a pro-forma basis.

About MCSP

MCSP is a global performance marketing business, headquartered in Singapore with approximately 410 staff and operations across APAC, MENA, US and UK. MCSP specialises in growth marketing for digital native brands.

MCSP was established in 2006 by founder James Hilton and has grown to be a leader in its field, working with some of the largest clients in the industry including Grab, Amazon, Canva, Gopuff and Meta. The business has been led by CEO Kabeer Chaudhary since 2021, and in FY25 is expected to report two consecutive years of like-for-like revenue growth.

Acquisition Funding

Brave Bison intends to fund the acquisition consideration by way of:

· A new Group bank facility of up to £25 million, for which a letter of support has been received from a UK lender; and

· A placing of new ordinary Brave Bison shares to existing and new investors.

There can be no certainty that the acquisition will conclude nor the terms on which any acquisition will conclude. Further announcements will be made, as appropriate, in due course.

For further information please contact: 

Brave Bison Group plc via Cavendish 

Oliver Green, Executive Chairman

Theo Green, Chief Growth Officer

Philippa Norridge, Chief Financial Officer

Cavendish Capital Markets Tel: +44 (0) 20 7220 0500 

Nominated Adviser & Joint Broker

Ben Jeynes / Teddy Whiley / Elysia Bough - Corporate Finance 

Michael Johnson / Sunila de Silva - ECM 

Singer Capital Markets Tel: +44 (0) 20 7496 3000

Joint Broker

Alex Hardwicke

About Brave Bison 

Brave Bison is a marketing and technology partner for global brands. With operations across eight countries including the UK, India, Australia and Egypt, Brave Bison provides customers with digital services, digital media and marketing skills training. 

The Group operates through two divisions: Digital Services and Digital Content.

Digital Services comprises the Group's digital marketing operations. Trading through dedicated brands including Brave Bison (performance media), SocialChain (social & influencer marketing), Engage (Sport & Entertainment) and MTM (strategy & insight), the Group works with global brands and media rights holders across consultancy and execution. Customers include New Balance, Primark and Google, as well as Formula 1, Real Madrid and New Zealand Rugby. 

Digital Content comprises the Group's operations to monetise digital content through training and advertising. This division includes the Brave Bison media network of YouTube, Facebook and Snap channels, as well as MiniMBA, a marketing skills and training platform that provides MBA-level education through an online learning portal.

Almost 6,000 marketing professionals take MiniMBA courses every year and the platform has trained approximately 45,000 delegates since inception. MiniMBA sells directly to marketers through its website, as well as to enterprise customers looking to upskill their teams including American Express, McDonald's, Google, British Airways, Nestle and Salesforce.