February 28, 2014 02:00 ET
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 (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
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.
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
T: 07768 875 681
Peterhouse Corporate Finance Limited
Mark Anwyl and Fungai Ndoro
T: 020 7469 0930
Milamber Ventures Plc
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