Milamber Ventures Plc

August 04, 2015 02:00 ET

Trading Update for the quarter ended 30 June 2015

                                           Milamber Ventures plc
                                       ("Milamber" or the "Company")
                             Trading Update for the quarter ended 30 June 2015

Milamber has made steady progress in the quarter ended 30 June 2015.

In  addition  to  signing up Gary June, Mark Andrews and Gary Mitchell to become Milamber Shareholders  and
Ambassadors in April 2015, we also signed up Johan Taft - the personal development guru - in June 2015.  Mr
Taft will become Chairman of the Milamber Ventures Ambassador Network.

Mr  Taft has subscribed for 13,889 ordinary shares of 1p each ("Ordinary Shares") in the Company at a price
of  18p  per  share. We are in negotiations with several other potential Ambassadors who are interested  in
becoming Milamber shareholders and using their expertise to help our Portfolio Companies.

Our  Portfolio  Companies continue to make progress. For example, Bull Rodger Limited ("BR") completed  its
balance  sheet restructure which resulted in assets exceeding liabilities for the first time in 8 years  at
BR's  year-end of 31 March 2015. The sales pipeline is growing steadily and BR has closed new contracts  in
the  quarter  and  subsequently.  We  have been working with BR to restructure  its  product  offering  and
rejuvenate the "Brand Strategy", ready for launching the new product offering in the autumn of 2015. We are
also looking for an initial acquisition target for BR to secure as part of its growth strategy.

In  June  2015, we conducted our first two days of filming to help launch the Milamber Filming Network  and
the MADE Content Network business, which Milamber owns a 49% equity stake in.

During  the  period,  we signed up White Cobalt, the cutting edge Web Application and  Systems  Integration
Company  run  by  Steve Stovold, as a new Portfolio company; we   expect to sign more  Portfolio  companies
during the remainder of the year.

We  have  cemented our relationship with our US Partner, The Hatch Group, by signing the  first  deal  with
Knowledge  Motion together. The Hatch Group is a collective of successful media, education  and  publishing
executives.  Like Milamber, they help early stage media, technology and education companies  find  capital,
talent,  and  new business. Together with Hatch, we are helping our Portfolio Companies to access  business
development  opportunities with the major US Education Publishers and Media houses, with  whom  Hatch  hold
strong relationships.

On 3 August 2015, we announced that we had agreed to buy back 205,556 Ordinary Shares from Steve Blyth, the
majority  shareholder  of  Engage Works Limited ("Engage"), for a consideration  of  £1.  As  part  of  the
agreement  with  Steve  Blyth,  Milamber  has  agreed to waive  the  Company's  option  to  acquire  shares
representing 2 per cent. of Engage's issued share capital.

The  shares  to  be  acquired from Steve Blyth represent approximately 8.1% of the Company's  issued  share
capital  and the Directors believe that acquiring these shares will prevent a potentially damaging overhang
of  shares  in the market. We are holding a General Meeting of the Company on 25 August 2015 at  2.00pm  to
approve  the  buy-back.  The  Directors  have recommended that all  shareholders  vote  in  favour  of  the
resolutions at the General Meeting.

The Milamber Directors have been concerned for some time that only secondary trading in Ordinary Shares  is
shown  on  the  ISDX web site. This means that the prices paid for new issues of Ordinary  Shares  and  the
number  of  shares issued, are not reflected as "trades" on the ISDX web site. The Directors  believe  that
this  results  in  an incomplete documentation of trading in Milamber shares and that,  as  a  result,  the
Company's  share  price  and market capitalisation do not necessarily reflect the  prices  of  the  primary

By  way of example, since 1 April 2015, a total of 12,595 Ordinary Shares have been traded in the secondary
market,  at prices ranging from 16p to 12.5p per share. In the same period, a total of 138,889 new Ordinary
Shares  have been issued by the Company at a price of 18p per share. This shows that primary trading volume
in Milamber shares is 11 times greater than secondary trading volume.

The Directors are currently discussing possible solutions to this issue with ISDX directly.

Following  the issue of shares to Mr Taft referred to above, the Company has 2,552,156 Ordinary  Shares  in
issue,  each share carrying the right to one vote. The figure of 2,552,156 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 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

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