Milamber Ventures Plc

LSE : MLVP


May 29, 2014 02:00 ET

New Investments and Issue of Equity

                                                                                                29 May 2014
                                                                                                           


                                           Milamber Ventures plc
                                       ("Milamber" or the "Company")
                                                     
                                    New Investments and Issue of Equity
                                                     
The Directors of Milamber are pleased to announce that the Company has completed two further investments in
pursuit  of its investment strategy, satisfied by the issue of new ordinary shares of 1 pence each  in  the
Company  ("Ordinary  Shares").  The  Company has also issued Ordinary Shares  in  satisfaction  of  certain
creditors.

Investments

Firstly,  the  Company  has  completed the acquisition of a 35% interest  in  Bull  Rodger  Limited  ("Bull
Rodger"), an advertising, design and marketing consultancy.

Bull  Rodger  (www.BullRodger.co.uk) was founded in 1985 and serves a diverse range of clients,  from  blue
chip  multi-nationals to venture capital-backed start-ups in a wide variety of sectors, both B2B  and  B2C.
Milamber  has been working with Bull Rodger's founder, Paul Rodger, over the past 15 months to assist  Bull
Rodger's  business development activities, with the overall objective of creating a larger  communications,
design  and  marketing consultancy. In the year ended March 2012, Bull Rodger made pre-tax profits  of  GBP
67,836 on revenues of GBP 313,421, and in the year ended March 2013 Bull Rodger made a pre-tax loss of  GBP
4,402 on revenues of GBP 187,326.

The  consideration  for the investment is GBP 70,000 which has been satisfied by the allotment  of  350,000
Ordinary Shares, at a price of 20 pence per share, to Paul Rodger.

The  Directors of Milamber believe that this investment provides the Company with a strategic equity  stake
in  a  digital  marketing services company and that increased co-operation with Bull  Rodger  will  enhance
Milamber's  capabilities to support its other portfolio companies.  As a significant  shareholder  in  Bull
Rodger,  Milamber  has been given the option to appoint a director to the board of Bull Rodger.  A  further
announcement will be made if this option is exercised.

Milamber has also acquired an additional 7.5% interest in Engage Production Limited ("Engage"), taking  its
total  interest  in  Engage to 10%. The consideration for this investment is GBP 100,000,  which  has  been
satisfied by the allotment of 500,000 Ordinary Shares to Steve Blyth, the founder and owner of Engage. In
the  year ended 31 December 2013, Engage had a turnover of GBP 1.84 million and achieved a profits  of  GBP
64,000.  Andrew  Hasoon,  Executive Chairman of Milamber, is already a non-executive  director  of  Engage.
Further information on Engage can be found at the company's website: www.engageproduction.co.uk.

Issue of Equity

The  Company  has issued a total of 431,250 Ordinary Shares in satisfaction of certain debts  owed  by  the
Company  totalling GBP 86,250. Of these Ordinary Shares, 300,000 have been issued to Andrew  Hasoon  in  in
settlement of GBP 60,000 previously loaned to Milamber by a company owned by Mr Hasoon.

Following  the  allotments of Ordinary Shares set out above, the Company has a total of 1,891,776  Ordinary
Shares in issue and is aware of the following interests in the share capital of the Company:

           Shareholder                       Ordinary Shares                             %
           Steve Blyth                           500,000                               26.43
     Andrew Hasoon (Director)                    400,000                               21.14
           Paul Rodger                           350,000                               18.50


The  above  figure  of  1,891,776 Ordinary Shares may be used by shareholders 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, Milamber under the FCA's Disclosure and Transparency Rules.

The Directors of Milamber are responsible for the contents of this announcement.

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

Peterhouse Corporate Finance Limited
Mark Anwyl and Fungai Ndoro
T: 020 7469 0930

Contact Information

  • Milamber Ventures Plc