LONDON, March 13, 2017 /PRNewswire/ --
Balgownie Ventures Limited ("Balgownie") notes the announcement made on 8th March by the Board of Milamber Ventures ("Milamber" or "the Company").
Balgownie confirms it has entered into a conditional agreement to suspend the requisition for a General Meeting until 30th March 2017.
In regard to the allegation that the acquisition by the Company of The League of Angels Limited and China 68 Limited ("the Transaction") did not complete, this allegation is wholly refuted. The Transaction successfully completed and Balgownie understands there is no basis in law for the cancellation of the 1,000,000 ordinary shares of 1p each in the Company which were issued in consideration of the acquisition.
Balgownie has referred this matter to its lawyers and is investigating the rights and options open to it in regard to the alleged cancellation of the shares. Balgownie has also notified NEX Exchange and the Company's advisers, as to its position. In the meantime, Balgownie reserves its right to bring any legal action against the Company, and will continue to defend any allegations that the Transaction has not completed.
Balgownie Ventures Limited
Mr Barney Battles
SOURCE Balgownie Ventures Limited