Milamber Ventures Plc

February 28, 2014 02:00 ET

Proposed Investment in Bull Rodger Limited and Capital Reorganisation

                                           Milamber Ventures plc
                                      ("Milamber " or the "Company")
                   Proposed Investment in Bull Rodger Limited and Capital Reorganisation

Milamber  Ventures plc is pleased to announce that is has agreed to acquire a 35% interest in  Bull  Rodger
Limited ("Bull Rodger"), an advertising, design and marketing consultancy.

Bull Rodger

Bull  Rodger  ( 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
GBP67,836  on revenues of GBP313,421, and in the year ended March 2013 Bull Rodger made a pre-tax  loss  of
GBP4,402 on revenues of GBP187,326.

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.

The  consideration for the acquisition will be GBP70,000 which will be satisfied by the issue  of  ordinary
shares in the Company following the capital reorganisation referred to below.

Capital Reorganisation

As  at  the close of business on 26 February 2014, the mid-price of the Company's ordinary shares as quoted
on  the ISDX Growth Market was 0.825 pence per share, which represents a 17.5 per cent. discount to the  1p
nominal  value of the ordinary shares. Under the Companies Act 2006, the Company is prohibited from issuing
ordinary  shares at a discount to their nominal value. Accordingly, the Company is proposing to  convene  a
General  Meeting of the Company at which proposals will be put to shareholders to reorganise the  Company's
share  capital  and reduce the nominal value of its ordinary shares. The Directors believe that  this  will
provide  the Company with the flexibility to execute its investment strategy and raise additional funds  in
the future. Further information about the capital reorganisation will be announced in due course.

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

Milamber Ventures plc
Andy Hasoon
T: 07768 875 681

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

Contact Information

  • Milamber Ventures Plc