{"success":true,"data":{"pressRelease":{"id":"142116","rtpr_id":"nGNE9Dn46j-20260914","ticker":"BBSN","exchange":"LSE","all_tickers":["BBSN"],"title":"REG-Form 8.3 - Brave Bison Group Plc","author":"Globe Newswire","published_at":"2026-09-14T08:25:26.072Z","article_body":"Downing LLP\nLEI: 213800G3X76VBG9SB504\n14 September 2026\nForm 8.3 re. Brave Bison Group Plc\n\nPUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH\nINTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE \nRule 8.3 of the Takeover Code (the “Code”)\n\n1.        KEY INFORMATION\n\n (a) Full name of discloser: Downing LLP \n (b) Owner or controller of interests and short positions disclosed, if different from 1(a): Client funds managed by Downing LLP \n (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Brave Bison Group Plc \n (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: n/a \n (e) Date position held/dealing undertaken: 11 September 2026 \n (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? No \n\n2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE\n\n(a)      Interests and short positions in the relevant securities of the\nofferor or offeree to which the disclosure relates following the dealing (if\nany)\n\n Class of relevant security: Ordinary shares 1p \n Interests Short positions \n Number % Number % \n (1) Relevant securities owned and/or controlled: 6,248,567 5.37 \n (2) Cash-settled derivatives: \n (3) Stock-settled derivatives (including options) and agreements to purchase/sell: \n TOTAL: 6,248,567 5.37 \n\n(b)      Rights to subscribe for new securities (including directors’\nand other employee options)\n\n Class of relevant security in relation to which subscription right exists: \n Details, including nature of the rights concerned and relevant percentages: \n\n3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE\n\n(a)        Purchases and sales\n\n Class of relevant security Purchase/sale Number of securities Price per unit \n Ordinary Shares Sale Purchase 1,420 1,420 85.04 86.00 \n\n(b)        Cash-settled derivative transactions\n\n Class of relevant security Product description Nature of dealing Number of reference securities Price per unit \n \n\n(c)        Stock-settled derivative transactions (including options)\n\n(i)        Writing, selling, purchasing or varying\n\n Class of relevant security Product description Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type Expiry date Option money paid/ received per unit \n \n\n(ii)        Exercise\n\n Class of relevant security Product description Exercising/ exercised against Number of securities Exercise price per unit \n \n\n(d)        Other dealings (including subscribing for new securities)\n\n Class of relevant security Nature of dealing Details Price per unit (if applicable) \n \n\n4.        OTHER INFORMATION\n\n(a)        Indemnity and other dealing arrangements\n\n Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: \n None \n\n(b)        Agreements, arrangements or understandings relating to\noptions or derivatives\n\n Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: \n None \n\n(c)        Attachments\n\n Is a Supplemental Form 8 (Open Positions) attached? NO \n\n\n\n Date of disclosure: 14 September 2026 \n Contact name: Cheryl Vickers \n Telephone number*: 0207 416 7780","article_body_html":"","raw_payload":{"data":{"id":"nGNE9Dn46j-20260914","title":"REG-Form 8.3 - Brave Bison Group Plc","author":"Globe Newswire","ticker":"BBSN","created":"2026-09-14T08:25:26.072Z","tickers":["BBSN"],"exchange":"LSE","article_body":"Downing LLP\nLEI: 213800G3X76VBG9SB504\n14 September 2026\nForm 8.3 re. Brave Bison Group Plc\n\nPUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH\nINTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE \nRule 8.3 of the Takeover Code (the “Code”)\n\n1.        KEY INFORMATION\n\n (a) Full name of discloser: Downing LLP \n (b) Owner or controller of interests and short positions disclosed, if different from 1(a): Client funds managed by Downing LLP \n (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Brave Bison Group Plc \n (d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: n/a \n (e) Date position held/dealing undertaken: 11 September 2026 \n (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? No \n\n2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE\n\n(a)      Interests and short positions in the relevant securities of the\nofferor or offeree to which the disclosure relates following the dealing (if\nany)\n\n Class of relevant security: Ordinary shares 1p \n Interests Short positions \n Number % Number % \n (1) Relevant securities owned and/or controlled: 6,248,567 5.37 \n (2) Cash-settled derivatives: \n (3) Stock-settled derivatives (including options) and agreements to purchase/sell: \n TOTAL: 6,248,567 5.37 \n\n(b)      Rights to subscribe for new securities (including directors’\nand other employee options)\n\n Class of relevant security in relation to which subscription right exists: \n Details, including nature of the rights concerned and relevant percentages: \n\n3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE\n\n(a)        Purchases and sales\n\n Class of relevant security Purchase/sale Number of securities Price per unit \n Ordinary Shares Sale Purchase 1,420 1,420 85.04 86.00 \n\n(b)        Cash-settled derivative transactions\n\n Class of relevant security Product description Nature of dealing Number of reference securities Price per unit \n \n\n(c)        Stock-settled derivative transactions (including options)\n\n(i)        Writing, selling, purchasing or varying\n\n Class of relevant security Product description Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type Expiry date Option money paid/ received per unit \n \n\n(ii)        Exercise\n\n Class of relevant security Product description Exercising/ exercised against Number of securities Exercise price per unit \n \n\n(d)        Other dealings (including subscribing for new securities)\n\n Class of relevant security Nature of dealing Details Price per unit (if applicable) \n \n\n4.        OTHER INFORMATION\n\n(a)        Indemnity and other dealing arrangements\n\n Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: \n None \n\n(b)        Agreements, arrangements or understandings relating to\noptions or derivatives\n\n Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: \n None \n\n(c)        Attachments\n\n Is a Supplemental Form 8 (Open Positions) attached? NO \n\n\n\n Date of disclosure: 14 September 2026 \n Contact name: Cheryl Vickers \n Telephone number*: 0207 416 7780"},"type":"article","timestamp":"2026-09-14T08:25:26.168557945Z","server_sent_at_ms":1789374326168},"received_at":"2026-09-14T08:25:26.223Z","source_url":null},"analysis":{"id":"130952","press_release_id":"142116","analysis_json":{"industry":{"label":"Media","sector":"Communication Services"},"redFlags":["Form 8.3 under Rule 8.3 of the Takeover Code implies an active offer period involving BBSN; the form does not specify whether BBSN is the offeror or offeree — monitor for takeover-related developments"],"eventType":"regulatory","narrative":"Downing LLP filed a Takeover Code Rule 8.3 disclosure dated 14 September 2026 showing its client funds hold 6,248,567 Brave Bison Group Plc ordinary shares, equal to a 5.37% stake.\n\nThe dealings section shows offsetting trades dated 11 September 2026: 1,420 shares sold at 85.04 and 1,420 shares purchased at 86.00, leaving the overall position effectively unchanged.\n\nRule 8.3 filings are mandatory during an offer period, so the form signals live takeover-code activity around Brave Bison, though it does not state whether the company sits as offeror or offeree; for BBSN holders this is routine disclosure paperwork with minimal net impact.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine 5.37% position disclosure by Downing LLP with unchanged stake — the only signal worth watching is the offer-period context surrounding BBSN."},"keyFigures":{"customDimensions":{"sale_price":85.04,"shares_sold":1420,"dealing_date":"11 September 2026","stake_shares":6248567,"stake_percent":"5.37%","purchase_price":86,"disclosure_date":"14 September 2026","shares_purchased":1420}},"quotedText":"","namedEntities":{"people":[{"name":"Cheryl Vickers","role":"disclosure contact at Downing LLP"}],"products":[],"companies":[{"name":"Downing LLP","relationship":"disclosing shareholder / fund manager (client funds)"},{"name":"Brave Bison Group Plc","ticker":"BBSN","relationship":"subject company of the Form 8.3 disclosure (filer)"}],"dollarAmounts":[]},"materialImpact":{"score":1,"reasoning":"Routine Takeover Code Rule 8.3 position disclosure by shareholder Downing LLP, not an issuer announcement. The stake (5.37%) was effectively unchanged via offsetting trades of just 1,420 shares each way, making this boilerplate compliance paperwork despite the offer-period context."},"tickerRelevance":{"others":[],"primary":"BBSN"},"globalImportance":10,"audienceRelevance":8,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"micro-cap UK AIM-listed","stakeChange":"none — offsetting purchases and sales","eventGravity":"routine Takeover Code 8.3 position disclosure","offerContext":"form relates to a party to an offer; offeror/offeree status unspecified","issuerAuthored":false}},"event_type":"regulatory","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Downing LLP filed a Takeover Code Rule 8.3 disclosure dated 14 September 2026 showing its client funds hold 6,248,567 Brave Bison Group Plc ordinary shares, equal to a 5.37% stake.\n\nThe dealings section shows offsetting trades dated 11 September 2026: 1,420 shares sold at 85.04 and 1,420 shares purchased at 86.00, leaving the overall position effectively unchanged.\n\nRule 8.3 filings are mandatory during an offer period, so the form signals live takeover-code activity around Brave Bison, though it does not state whether the company sits as offeror or offeree; for BBSN holders this is routine disclosure paperwork with minimal net impact.","key_figures":{"customDimensions":{"sale_price":85.04,"shares_sold":1420,"dealing_date":"11 September 2026","stake_shares":6248567,"stake_percent":"5.37%","purchase_price":86,"disclosure_date":"14 September 2026","shares_purchased":1420}},"named_entities":{"people":[{"name":"Cheryl Vickers","role":"disclosure contact at Downing LLP"}],"products":[],"companies":[{"name":"Downing LLP","relationship":"disclosing shareholder / fund manager (client funds)"},{"name":"Brave Bison Group Plc","ticker":"BBSN","relationship":"subject company of the Form 8.3 disclosure (filer)"}],"dollarAmounts":[]},"model_name":"glm-5.3-flash","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-14T08:26:10.523Z","global_importance":10,"audience_relevance":8,"importance_components":{"tickerTier":"micro-cap UK AIM-listed","stakeChange":"none — offsetting purchases and sales","eventGravity":"routine Takeover Code 8.3 position disclosure","offerContext":"form relates to a party to an offer; offeror/offeree status unspecified","issuerAuthored":false}},"durationMs":44290,"modelName":"glm-5.3-flash"}}