Lapse of Brave Bison Offer and Notice of Results
System1 Group PLC announced that the unsolicited offer from Brave Bison Group plc to acquire its entire issued and to be issued share capital has lapsed, as it failed to meet the acceptance condition, meaning System1 is no longer in an offer period. The company thanked its shareholders for their support and confirmed it will continue as an independent entity, focusing on its strategy and delivering long-term value. System1 plans to release its unaudited interim results for the six months ended 30 September 2026 in early December 2026.
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The Board of System1 Group plc (the "Board") notes the announcement by Brave Bison Group plc ("Brave Bison") that its unsolicited offer for the entire issued and to be issued share capital of System1 not already owned by Brave Bison (the "Offer") has lapsed, having failed to satisfy the acceptance condition. Accordingly, System1 is no longer in an offer period for the purposes of the Takeover Code.
The Board thanks shareholders for their support throughout the offer period. System1 will continue as an independent company, remaining focused on executing its strategy and delivering long-term value for all shareholders.
The Company will release its unaudited interim results for the six months ended 30 September 2026 in early December 2026.
Rupert Howell, Chair of System1, commented: "Our shareholders have been very supportive throughout this process, and we'd like to thank them for the confidence they have shown in System1's independent future.
"As the Board has previously stated, it did not see the Brave Bison final offer or the alternative offer as representing fair value for all shareholders.
"We are very excited about the opportunities open to System1 as a standalone listed company and intend to work constructively with all our shareholders as we embark on System1's next chapter."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.