Milamber Ventures Plc
LSE : MLVP

January 30, 2015 07:08 ET

Trading Update for the Quarter Ended 31 December 2014

                                           Milamber Ventures plc
                                                     
                                         ("MVLP" or the "Company")
                                                    
                           Trading Update for the Quarter Ended 31 December 2014
                                                     

During  the period, Milamber Ventures plc sold its equity stake in Flux Impact Limited ("Flux")  to  Engage
Production  Limited  ("Engage"). MVLP continues to hold a 10% equity stake in  Engage.  The  deferred  cash
consideration  for  the sale of Flux will meet a significant amount of the Company's anticipated  operating
expenses for a period up to October 2016.

On 7 January 2015, Andy Hasoon, Executive Chairman of the Company, stepped down from the board of Engage to
allow him to focus fully on building a portfolio of value enhancing investments for MVLP.

During  the period, Bull Rodger Limited ("Bull Rodger"), in which the Company has a 35% interest, has  been
restructured, ready for launching a new product offering in 2015. Bull Rodger teamed up with Grow³  Ltd  to
prepare  for  launching this product offering via a new sales campaign. Bull Rodger  has  appointed  a  new
managing  director, Charlie Dilk, who has a wealth of experience building companies, in particular devising
and delivering bespoke communications and education solutions for clients.

MVLP  continues  to  make  progress on building a portfolio of investments in  the  media,  technology  and
educational sectors.

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

ENQUIRIES

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

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


Contact Information

  • Milamber Ventures Plc