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DJ Milamber Ventures Plc Acquisition of Vocademia

 
TIDMMLVP 
 
28 February 2018 
 
                             Milamber Ventures Plc 
 
                         ("Milamber" or "the Company") 
 
                           Acquisition of Vocademia 
 
The Directors of Milamber (ISDX: MLVP) are pleased to announce that the Company 
has acquired the entire issued share capital of Vocademia London Limited 
("Vocademia "), for a consideration of GBP165,000 from its founder Mark Woodcock. 
 
A consideration of GBP105,000 has been satisfied by the issue of 1,000,000 
ordinary shares of 1p each in Milamber ("Ordinary Shares") to the vendor Mark 
Woodcock at a price of 10.5p per share. 
 
A deferred consideration of GBP60,000 will be satisfied in cash or in Milamber 
ordinary shares of 1p each in Milamber ("Ordinary Shares") subject to 
performance on a quarter by quarter basis in the financial year 2018-2019. 
 
Vocademia is being acquired on cash and debt free basis and holds no material 
assets at closing, therefore the relevant consideration will be capitalised as 
good-will in Milamber's accounts from the year ending 2018. 
 
Vocademia (www.vocademia.co.uk) is an educational consultancy formed in August 
2016 which generated revenue of GBP120,000 for year end 31 December 2017. 
Vocademia creates solutions that bridge vocational, professional and academic 
obstacles for employers or society. 
 
Mark Woodcock will take on the role of Milamber's UK Education Managing Partner 
in addition to his existing responsibilities. 
 
Following this issue of Ordinary Shares, Mark Woodcock is now interested in 
1,000,000 Ordinary Shares, representing 11.07% 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 9,028,560 Ordinary 
Shares in issue, each share carrying the right to one vote. 
 
Andy Hasoon, Executive Chairman of Milamber, commented, "Vocademia and Mark are 
a very good strategic fit to Milamber's existing advisory business, broadening 
both our depth and breadth of expertise in the education sector. Mark will be 
taking the advisory lead for all Milamber's education clients in the UK." 
 
The Directors of the Company accept responsibility for this announcement. 
 
                                    -ends- 
 
For further information please visit: www.Milamber.co.uk, or contact: 
 
Milamber Ventures plc 
 
Andy 
Hasoon 
T: 07768 875 681 
 
E: Andy.hasoon@milamberventures.com 
 
Leander (Financial PR) 
 
Christian 
Taylor-Wilkinson 
T: 07795 168 157 
 
First Sentinel Corporate Finance (NEX Advisor) 
 
Brian Stockbridge (CEO) 
                                                                         T: 
07876 888 011 
 
 
 
END 
 

(END) Dow Jones Newswires

February 28, 2018 02:00 ET (07:00 GMT)