Form 8 (OPD)(b) - rave Bison Group plc
Brave Bison Group plc has disclosed its opening position as an offeror in relation to its own relevant securities and those of System1 Group plc as of July 23, 2026. The company and its concert parties hold no direct interests or short positions in Brave Bison Group plc's ordinary shares. However, Greenspan Investments Ltd, acting in concert, holds 12,952,477 ordinary shares representing 11.14% of the issued share capital, with Oliver Charles Green and Theodore Samuel Green identified as beneficial holders. Additionally, Oliver Charles Green holds 3,243,555 shares (2.79%) and Theodore Samuel Green holds 3,188,555 shares (2.74%). Tangent Industries Ltd, parent of the Greens, holds 250,000 shares (0.21%). Philippa Norridge has vested restricted stock units totaling 612,821 and unvested units of 500,000.
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Rules 8.1 and 8.2 of the Takeover Code (the "Code")
KEY INFORMATION
| (a) Full name of discloser: | Brave Bison Group plc |
| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Brave Bison Group plc |
| (d) Is the discloser the offeror or the offeree? | OFFEROR |
| (e) Date position held: The latest practicable date prior to the disclosure | 23 July 2026 |
| (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" | YES System1 Group plc |
POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
| Class of relevant security: | Ordinary shares of 2 pence each | |||
| Interests | Short positions | |||
| Number | % | Number | % | |
| (1) Relevant securities owned and/or controlled: | Nil | Nil | Nil | Nil |
| (2) Cash-settled derivatives: | Nil | Nil | Nil | Nil |
| TOTAL: | Nil | Nil | Nil | Nil |
All interests and all short positions should be disclosed.
Rights to subscribe for new securities
| Class of relevant security in relation to which subscription right exists: | N/A |
| Details, including nature of the rights concerned and relevant percentages: | N/A |
- POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
- Holdings of ordinary shares by directors and persons acting in concert with Brave Bison Group plc Name / company name of registered shareholder Number of ordinary shares held Percentage of total issued share capital carrying voting rights Beneficial holder (if applicable) Greenspan Investments Ltd 12,952,477 11.14% Oliver Charles Green Theodore Samuel Green Oliver Charles Green 3,243,555 2.79% N/A Theodore Samuel Green 3,188,555 2.74% N/A Tangent Industries Ltd 250,000 0.21% Michael Philip Green* Gordon Haig Brough 29,368 0.03% N/A Philippa Kate Norridge 67,715 0.06% N/A Matthew Law 43,500 0.04% N/A *Parent of Oliver Charles Green and Theodore Samuel Green. b) Options or awards over ordinary shares by directors of Brave Bison Group plc Philippa Norridge Share plan Grant date Number of relevant securities Exercise price (GB£) Vesting information Expiry date Restricted stock units 15/02/2021 612,821 0.02 Vested equally in 3 tranches over 3 years from 01/05/2020 to 01/05/2023 15/02/2031 Restricted stock units 12/12/2023 500,000 0.375 Vested equally in 3 tranches equally over 3 years from 01/05/2023 to 01/05/2026 12/12/2033
- OTHER INFORMATION
- Indemnity and other dealing arrangements
None
- Agreements, arrangements or understandings relating to options or derivatives
None
Attachments
Are any Supplemental Forms attached?
| Supplemental Form 8 (Open Positions) | NO |
| Supplemental Form 8 (SBL) | NO |
| Date of disclosure: | 23 July 2026 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.
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