How did System1 Group's board respond in July to Brave Bison's revised takeover approach?

In July System1 Group's board repeatedly and unanimously rejected Brave Bison's revised takeover approach, describing the terms as undervaluing a business that delivered record H2 revenue.

System1 — TickStock

Timeline

System1

3 stories · updated 17 Jul

System1 rebuffs Brave Bison's revised takeover approach again

07:45, 17 Jul 2026

System1 Group flags H2 profit recovery and confident start to FY27

09:26, 8 Jul 2026

System1 rejects Brave Bison's revised takeover offer (again)

System1's board says both the cash-and-share and all-share alternatives from Brave Bison undervalue the company, with no shareholder undertakings secured.

08:06, 28 Aug 2026

Media & Entertainment

Gana Media's Estadio Deportes secures Mexican university football rights

16:21, 27 Aug 2026

Mining & Metals

Small Caps Today: Sundae Bar raises fresh funds, Empresaria, Brave Bison, Central Asia Metals, Cornish Metals

15:38, 26 Aug 2026

Media & Entertainment

Brave Bison net revenue nearly doubles in first half

07:34, 26 Aug 2026

Media & Entertainment

One Media iP exits Round Group stake for cash

09:05, 24 Aug 2026

Retail

Huddled forms TikTok joint venture with Cipher for Peeko live commerce

07:42, 24 Aug 2026

Media & Entertainment

PowerPlay Media agreements point to $1.3m annualised revenue

08:13, 20 Aug 2026

Media & Entertainment

Gana Media appoints Lorenzo Caci as chief operating officer

07:44, 19 Aug 2026

Media & Entertainment

Time Out Group shares surge after full-year revenue update

Updated 14:14, 18 Aug 2026

Retail

The Morning Brief: Kainos raises guidance on record backlog, Time Out, BHP, Made Tech, HgCapital Trust, Foresight Solar, Diageo, Huddled, Talisman Metals, Sabien Technology, Frasers Group

07:52, 18 Aug 2026

AIM & Small Cap

Tech Today: GB Group slashes guidance as Americas attrition bites, Winking Studios

17:05, 14 Aug 2026

System1 is a marketing decision-making platform that helps brands predict and improve the commercial impact of ads and ideas by measuring consumer emotions. The company serves over 500 customers across 81 markets globally.

Sector: Media & Entertainment
Market: AIM

Insight

What proportion of System1 Group's sales comes from platform revenue?

Platform revenue accounts for 96% of System1 Group's sales.

Updated 17 Jul 2026

Insight

How much annualised cost did System1 remove through its second-half cost-efficiency actions?

System1 removed about £1.0m of annualised costs through second-half cost-efficiency actions and incurred £0.5m of restructuring charges.

Updated 8 Jul 2026

Insight

Why did System1 Group reject Brave Bison Group's revised takeover proposal on 17 July 2026?

System1 Group's board rejected Brave Bison Group's revised proposal because it contained no notable control premium and failed to reflect the group's positive outlook, despite citing a 65% premium to the undisturbed share price.

Updated 17 Jul 2026

Insight

What happened to System1's adjusted EBITDA year on year?

System1's adjusted EBITDA declined materially year on year due to both planned investment and softer end-market conditions.

Updated 8 Jul 2026

Insight

How many clients did System1 Group report at year-end for FY2026?

System1 Group's client base grew to 635 at year-end for FY2026, up from 546 in the prior year.

Updated 17 Jul 2026

Identifiers

Ticker: AIM:SYS1
Market: AIM
ISIN: GB00B1GVQH21
LEI: 213800TDLR42C3Q9ZB74

Learn more on:

GLEIF Companies House

Timeline

System1

System1 rebuffs Brave Bison's revised takeover approach again

System1 Group flags H2 profit recovery and confident start to FY27

System1 Group posts record H2

More in Media & Entertainment

System1 rejects Brave Bison's revised takeover offer (again)

Gana Media's Estadio Deportes secures Mexican university football rights

Small Caps Today: Sundae Bar raises fresh funds, Empresaria, Brave Bison, Central Asia Metals, Cornish Metals

Brave Bison net revenue nearly doubles in first half

One Media iP exits Round Group stake for cash

Huddled forms TikTok joint venture with Cipher for Peeko live commerce

PowerPlay Media agreements point to $1.3m annualised revenue

Gana Media appoints Lorenzo Caci as chief operating officer

Time Out Group shares surge after full-year revenue update

The Morning Brief: Kainos raises guidance on record backlog, Time Out, BHP, Made Tech, HgCapital Trust, Foresight Solar, Diageo, Huddled, Talisman Metals, Sabien Technology, Frasers Group

Tech Today: GB Group slashes guidance as Americas attrition bites, Winking Studios

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