Lock-in and Orderly Market Agreement
The Directors of Brave Bison have been made aware by Mr Collier that between 3 August 2016 and 1 September 2016 he sold a total of 492,559 ordinary shares in the Company, which had been issued as VML earn-out consideration, as announced on 1 September 2015, and were subject to lock-up arrangements until 2 September 2016. This constituted a breach of the Lock-in and Orderly Market Agreement ("LOMA"), entered into on 7 July 2014 between the Company, Cenkos Securities plc and Mr. Collier, one of the vendors of Viral Management Limited ("VML"), which the Company accepts was inadvertent.
Mr Collier has been co-operating with the Company and has agreed that he will now be subject to an extended lock-up agreement on his existing balance holding of 1,667,869 ordinary shares in the Company pursuant to which he will not be able to sell such shares (subject to certain carve-outs) during the period from the date of this announcement until 2 September 2017.
For further information, contact:
Brave Bison Group plc
Kevin Deeley (Chief Operating and Finance Officer)
Richard Johnson / Andy Crossley / Ed Thomas
Tel: 020 7601 6100
FTI Consulting (PR adviser to Brave Bison)
Rob Mindell / Charles Palmer
Tel: 020 3727 1000