Blue Star Capital plc Investment update on Sthaler (3695A)
June 07 2016 - 1:00AM
UK Regulatory
TIDMBLU
RNS Number : 3695A
Blue Star Capital plc
07 June 2016
Blue Star Capital plc
("Blue Star" or the "Company")
Investment update on Sthaler
Blue Star is pleased to announce that one of its investee
companies Sthaler Limited ("Sthaler") has successfully raised
GBP1m. Sthaler is an early stage identity and payments technology
business which enables a consumer to identify themselves and pay
using just their finger at retail points of sale.
The Company invested GBP50,000 in Sthaler in June 2015, in
return for 1.45 per cent. of the issued share capital of Sthaler,
as part of a GBP450,000 round of investment by Sthaler. This latest
round of investment was carried out on a pre money valuation of
GBP7.5m and values the Company's stake of 1.28 per cent. at
GBP108,700.
Sthaler is a UK based technology business that has jointly
developed Fingopay in conjunction with Hitachi. Fingopay uses a
unique finger vein ID process which is considered to be more secure
than finger print readers and faster than chip and pin operations.
The technology is widely adopted in Japan and it is Sthaler's aim
to commercialise the technology in the area of payments
globally.
Graham Parr, Chairman of Blue Star, commented:
"We continue to believe that Sthaler has the potential to play
an important part in the payments world. This latest fund raise has
been very well received and we expect to see continued progress as
Sthaler's management work to maximise the Company's potential."
Enquiries:
Blue Star Capital plc
Graham Parr, Chairman +44 778 891 6111
Tony Fabrizi, Chief Executive +44 777 178 2434
Cairn Financial Advisers
LLP +44 20 7148 7900
Nomad and Broker
Emma Earl/Jo Turner
This information is provided by RNS
The company news service from the London Stock Exchange
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