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Investor News: Issue of Equity

September 2017

Brave Bison, the independent digital media and social video business, notifies the issue of 2,131,104 new ordinary shares of 0.1 pence each in the Company (Shares) following receipt of a notice of conversion in relation to the £383,598.72 Unsecured 5% Convertible Loan Notes, originally subscribed in August 2015 and convertible at 18 pence per share.

Application is being made for the admission to trading on AIM (Admission) of the 2,131,104 new Shares, which will rank pari passu in all respects with the Company's existing Shares. Admission of the new Shares is expected to become effective on 21 September 2017.

Following Admission, the total number of Shares in the Company with voting rights will be 573,909,228. The Company does not hold any Ordinary Shares in Treasury. The above figure of 573,909,228 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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