System1 Group repeats rejection of Brave Bison offer

Industry & Services Business & Education Services Written by: Jamie Ashcroft 07:41 Fri 28 Aug 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first-class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. System1 Group PLC ( AIM:SYS1 ) View Price & Profile System1 Group repeats rejection of Brave Bison offer Published: 07:41 28 Aug 2026 BST System1 Group PLC (AIM:SYS1) has repeated its rejection of Brave Bison (AIM:BBSN) takeover approach after the offer document left the terms unchanged and the implied discount to System1’s market price widened. Brave Bison (AIM:BBSN) is offering 2.04 of its shares plus 135p cash for each System1 share. Based on Brave Bison’s 84.5p closing price on 26 August, the proposal values System1 shares at 307.4p, an 8.2% discount to System1’s closing price of 335p. The alternative all-share proposal of 3.36 Brave Bison shares for each System1 share implies a value of 283.9p, representing a 15.2% discount. When the revised terms were announced in July, the respective discounts were 6.8% and 10.9%. System1 said its board “continues to unanimously and unequivocally reject” both proposals and also noted that Brave Bison has secured no irrevocable undertakings or letters of intent from System1 shareholders. Shareholders were advised to take no action while the company prepares its formal offeree board circular, which will also include the trading update previously due in August. Continue reading