Shareholder update & PDMR Dealing
System1 Group PLC announced that Brave Bison Group plc has made a strategic investment, acquiring 2,919,793 System1 shares, representing 23.01% of the issued share capital, from John Kearon for an implied price of 248.64 pence per share. This transaction was settled through the issuance of 9,810,504 Brave Bison shares, constituting 8.74% of Brave Bison's enlarged share capital. Consequently, Brave Bison now holds approximately 27.96% of System1, with an average blended price of 241.80 pence per System1 share. The company confirmed it continues to trade in line with previous guidance, and John Kearon will no longer hold System1 shares.
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The board of System1 Group PLC (the "Board") (AIM: SYS1), notes the announcement released today by Brave Bison Group plc ("Brave Bison") in relation to its strategic investment in the Company and in particular notes the following:
- John Kearon, System1's Founder and Non-Executive Director has sold 2,919,793 shares in System1 representing 23.01% of the Company's issued share capital to Brave Bison (the "Disposal"), at an implied System1 share price of 248.64 pence;
- Consideration for the Disposal is the issue of 9,810,504 ordinary shares in Brave Bison representing 8.74% of Brave Bison's enlarged issued share capital; and
- Brave Bison now holds 3,547,904 shares in System1, equivalent to approximately 27.96% of the Company's issued share capital, including 628,111 System1 shares purchased on market at a price of 210 pence per share in cash, which in aggregate is a blended price per System1 share of 241.80 pence.
The Board acknowledges the strategic investment by Brave Bison in System1. The Board notes that Brave Bison is supportive of the strategy of System1 and is looking forward to engaging with Brave Bison in their support of the execution of the Company's strategy.
The Board confirms that the Company continues to trade in line with the guidance as announced on 20 January 2026.
Following the Disposal, John Kearon will no longer hold any shares in System1.
| a) | Name | John Kearon | ||||
| 2. | Reason for the notification | |||||
| a) | Position / status | Non-Executive Director | ||||
| b) | Initial notification / amendment | Initial notification | ||||
| a) | Name | System1 Group PLC | ||||
| b) | Legal Entity Identifier | 213800TDLR42C3Q9ZB74 | ||||
| a) | Description of the financial instrument | Ordinary Shares GB00B1GVQH21 | ||||
| b) | Nature of the transaction | Sale of shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| e) | Date of the transaction | 2 March 2026 | ||||
| f) | Place of the transaction | London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.