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DJ Milamber Ventures Plc Acquisition

 
TIDMMLVP 
 
4 February 2019 
 
                             Milamber Ventures Plc 
                                 ("Milamber") 
 
                                  Acquisition 
 
Milamber Ventures plc (NEX: MLVP) is delighted to announce that it has 
completed the acquisition of Astara Training Limited ("Astara") which was 
incorporated on 26 June 2013 by Victoria Smith who will remain with the company 
as Chief Learning Officer. 
 
Milamber has acquired 100% of Astara's equity paid for GBP16,666, comprising 
185,178 Milamber Ordinary Shares, issued at 9 pence per share. The shares have 
been issued to the two Directors of Astara, Victoria Smith and Dave Henderson, 
and are covered by a two-year lock in agreement. Milamber will also provide 
loans to Astara totalling GBP50,000 to cover various working capital obligations. 
 
Andy Hasoon, Executive Chairman of Milamber commented, "We are delighted to 
have acquired Astara and welcome Victoria and Dave to the Milamber Education 
team, which is led by Rachael Cartwright." 
 
ABOUT ASTARA 
 
Astara was set up to provide training services and is on the UK Government 
Register of Learning Providers (UKPRN: 10042141) as a RoATP Prime Training 
Provider which means that it can deliver Apprenticeship Levy training services 
and is registered as a Social Enterprise Certified Member (number: 7693). 
Astara has a clear focus to provide opportunities for learners rather than 
generate pure profit. However, Astara has been profitable for the previous 
three years and has demonstrated year on year organic growth, as shown below: 
 
In late 2018, funding ceased for Astara's main training activities and the 
decision was taken to cease trading and close the company.  Milamber's 
acquisition of Astara as a viable "shell" comes while the company is still 
active and with the ability to begin generating new revenues based on Astara's 
existing licences, which remain active, with Victoria Smith and support staff 
remaining in place. 
 
Astara was inspected in April 2018 by the ESFA and rated as a Grade A provider 
and its Financial Health, as classified by the ESFA, is "Good". Historically, 
the company has provided the bulk of its training services to HM Prisons. In 
2018 Astara secured registration on the Ministry of Justice (MOJ) dynamic 
purchasing system, one of just 152 companies. This is in readiness for the new 
HM Prison Governors education contracting process which begins in April 2019. 
The company has delivered training to circa 40 Prisons historically and is also 
approved for DWP and NHS training delivery. 
 
Astara uses freelance Assessors for delivery of courses which include: Teacher 
Training; Spectator Safety level 2 & 3; Leadership and Management levels 3, 5, 
& 7, (BTEC and NVQ); Business Administration; Customer Service; Team Leading; 
Learning & Development and various others. 
 
Astara has Direct Claim Status with Pearson, can qualify Assessors, IQAs, and 
Managers up to level 7 and is a Platinum Partner with the YMCA which 
effectively gives the company Direct Claims Status across all YMCA awards. Some 
of the delivery via the YMCA Training Provider status includes Personal 
Wellbeing; Fitness and Physical Activity; Lifestyle Management; Instructing 
Exercise and Fitness (Certificate & Diploma); Personal Trainer; Assessor 
Awards; Education and Training and others on an ad hoc basis. Astara has an 
Adult Education Budget contract at this time with New College Swindon for GBP 
150,000 from 1 August 2018 to 31 July 2019, and talks are underway to 
recommence activities under this contract. 
 
                                    -ends- 
 
ENQUIRIES: 
 
Milamber Ventures Plc 
Andy Hasoon 
T: 07768 875 681 
E: andy.hasoon@milamber.co.uk 
www.milamber.co.uk 
 
First Sentinel Corporate Finance Limited (NEX Exchange Corporate Adviser) 
Brian Stockbridge 
T: 020 7469 0930 
 
Leander (Financial PR) 
Christian Taylor-Wilkinson 
T: 07795 168 157 
E: ctw@leanderPR.com 
 
 
 
END 
 

(END) Dow Jones Newswires

February 04, 2019 11:34 ET (16:34 GMT)