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DJ Milamber Ventures Plc Acquisition(s)

 
TIDMMLVP 
 
30 December 2016 
 
                             Milamber Ventures plc 
                         ("Milamber" or the "Company") 
 
                      Acquisition of the League of Angels 
 
The Directors of Milamber (ISDX: MLVP), a specialist business incubator, are 
pleased to announce that the Company has acquired the entire issued share 
capital of The League of Angels Limited ("League of Angels" or the "League"), 
for a consideration of GBP150,000. 
 
The League of Angels is a Private Members Network whose purpose is to inspire 
and invest in future global businesses by combining the expertise and 
experiences of the League's members. 
 
The League was established following an investor funding event named "The Arts 
Club Angels" held in 2013 to give individuals an opportunity to provide 
financial support to the creative arts industry. The League of Angels was born 
with the mission to offer "Great People, Great Prospects at Great Places". Over 
the next three years, the League grew to a network of over 5,000 partners and 
associates reaching from Shanghai to Chicago. Based in London, the League's 
network grew to include Monaco and Los Angeles in 2015. 
 
In the same year, the League created a wholly-owned subsidiary, The China 68 
Club Limited ("China 68"), focused on Chinese family offices looking to invest 
in London. 
 
Mark "Barney" Battles, a non-Executive Director of the Company, was the founder 
of The League of Angels and its majority shareholder. Barney has played a 
pivotal role in building up China 68 to create a strong network between China 
and the UK. 
 
In its financial year ended 30 June 2016, the League made profits before 
taxation of GBP2,809 on turnover of GBP48,100. Since April 2016, Milamber has 
secured contracts worth more than GBP200,000 via referrals from the League. 
 
The consideration of GBP150,000 has been satisfied by the issue of 1,000,000 
ordinary shares of 1p each in Milamber ("Ordinary Shares") at a price of 15p 
per share. The Ordinary Shares have been allotted to the vendors of the League 
as follow: Barney Battles: 866,662 Ordinary Shares; Tweedie Brown: 50,000 
Ordinary Shares; John May: 33,333 Ordinary Shares; Roger Southam: 33,333 
Ordinary Shares; and Ranjeet Furhuraire: 16,667 Ordinary shares. 
 
Following this issue of Ordinary Shares, Barney Battles is now interested in 
1,231,245 Ordinary Shares, representing 21.6 per cent of the Company's enlarged 
issued share capital. 
 
In accordance with the Financial Conduct Authority's Disclosure and 
Transparency Rules, the Company announces that it now has 5,695,404 Ordinary 
Shares in issue, each share carrying the right to one vote, and 505,556 
Ordinary Shares held in Treasury. 
 
Andy Hasoon, Executive Chairman of Milamber, commented, "We are excited to have 
brought the League of Angels under our roof; with its extensive partner network 
we will be significantly increasing our contact base which means greater access 
for our Portfolio Companies to reach the financing and knowledge skills needed 
for them to execute their growth strategies. We already have plans in place to 
increase the number of events in 2017 and to expand our reach further. This is 
the first of a number of strategic acquisitions that we have planned." 
 
                                    -ends- 
 
Enquiries: 
 
Milamber Ventures plc 
Andy Hasoon 
T: 07768 875 681 
E: andy.hasoon@milamber.co.uk 
www.milamber.co.uk 
 
Peterhouse Corporate Finance Limited (ISDX Corporate Adviser) 
Mark Anwyl and Fungai Ndoro 
T: 020 7469 0930 
 
Cadogan Leander (Financial PR) 
Christian Taylor-Wilkinson 
T: 07795 168 157 
 
 
 
END 
 

(END) Dow Jones Newswires

December 30, 2016 02:01 ET (07:01 GMT)