Milamber Ventures Plc
LSE : MLVP

January 13, 2016 02:00 ET

New Investment and Issue of Equity

                                                                                            13 January 2016
                                                                                                           
                                           Milamber Ventures plc
                                       ("Milamber" or the "Company")

                                    New Investment and Issue of Equity

Milamber Ventures, the ISDX (MVLP) traded specialist business incubator and growth accelerator, is  pleased
to  announce  that  it  has  acquired  a 10% equity stake in White Cobalt  Limited  (White  Cobalt)  for  a
consideration of £30,000. The consideration has been satisfied by the issue of 166,667 ordinary  shares  of
1p each in the Company ("Ordinary Shares"), at a price of 18 pence per share, to Steve Stovold.

Steve Stovold, a 15 year veteran of software development and operations management, founded White Cobalt in
January 2011. White Cobalt has been helping its customers understand the power of technology and how it can
be  applied  to  benefit  their commercial interests for over four years. White Cobalt  creates  integrated
platforms which deliver efficiencies, control and interactivity that empower their customers to manage  and
scale their own growth through the use of technology.

White  Cobalt's revenue for the year ended 31 March 2015 was £73,366. However, Milamber began working  with
White  Cobalt  in April 2015 and for the period 1 April 2015 to 30 September 2015 (6 months),  revenue  was
£101,793  showing  clear  proof of the benefits of this synergistic relationship.  White  Cobalt  has  also
contracted  a  further  £242,607 of revenue from October 2015 to March 2017 with two key  customers.  White
Cobalt and Milamber are now working together to grow the company further.

White  Cobalt has invested in a new brand and marketing strategy which begins to be implemented in  January
2016.  White Cobalt has also secured a £25,000 loan from Funding Circle to help cash-flow when  hiring  new
developers.

Milamber  is  also pleased to announce that Paul Lees and Andrew Pearce, the Co-founders and Joint  CEO  of
Powwownow,  the  UK's leading free conference call service provide, have each invested £9,000  in  Milamber
through  the acquisition of 50,000 Ordinary Shares at a price of 18 pence per share. The proceeds  of  this
investment  will  be  used  to fund a joint project being worked on by Milamber and  "Thortful",  Paul  and
Andrew's new venture.

The Company's issued share capital following these allotments is 3,513,268 Ordinary Shares. Following these
allotments, the Directors are aware of the following interests of 3% or more in the issued share capital of
the Company:

Name                                             Shares                          % Shareholding
Andrew Hasoon*                                  531,158                               15.1
Paul Rodgers                                    350,000                               10.0
Steve Blyth                                     294,444                               8.4
Gary June                                       222,222                               6.3
Steve Stovold                                   166,667                               4.7
Gary Mitchell                                   138,889                               4.0
Christian Andrew*                               138,889                               4.0
Jason Velody*                                   138,889                               4.0
Webb Capital                                    124,387                               3.5
Jaeger Carey                                    111,111                               3.2
Dapo Ladimeji*                                  111,111                               3.2

Total                                          2,161,100                             66.4%

*Director of the Company.

In  accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company hereby
announces that it has 3,513,268 Ordinary Shares in issue, each share carrying the right to one vote.

The above figure of 3,513,268 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 and Transparency Rules.

The Directors of the Company accept responsibility for this announcement.

                                                  -ends-
Enquiries:

Milamber Ventures plc
Andy Hasoon
T: 07768 875 681
E: Andy.hasoon@milamberventures.com
www.MilamberVentures.com

Peterhouse Corporate Finance Limited (ISDX Corporate Adviser)
Mark Anwyl and Fungai Ndoro
T: 020 7469 0930

Cadogan Leander (Financial PR)
Christian Taylor-Wilkinson
T: 07795 168 157


Contact Information

  • Milamber Ventures Plc