Blue Star Capital plc Result of Placing (2686U)
January 16 2017 - 6:15AM
UK Regulatory
TIDMBLU
RNS Number : 2686U
Blue Star Capital plc
16 January 2017
Blue Star Capital plc
("Blue Star" or the "Company")
Result of Placing
Issue of equity
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on technology and its applications within media and gaming,
is pleased to announce that further to the announcement made
earlier today ("Transaction Announcement") it has conditionally
placed 466,666,667 new Ordinary Shares in the Company (the "Placing
Shares") at a price of 0.15 pence per share raising gross proceeds
of GBP0.70 million. Other than where defined, capitalised terms
used in this announcement have the meanings given to them in the
Transaction Announcement.
EUR0.64 million (approximately GBP0.56 million as at 13 January
2017) of the net proceeds of the Placing are expected to be used to
complete the Company's proposed investment in SatoshiPay with the
remainder being used for general working capital. Completion of the
investment in SatoshiPay together with completion of further
investment by third parties into SatoshiPay of approximately
EUR0.36 million (which is currently in the process of completing)
would result in Blue Star owning approximately 10.68 per cent. of
the enlarged issued share capital of SatoshiPay. Further details on
the SatoshiPay Subscription are set out in the Transaction
Announcement.
The Placing will utilise the Company's existing authorities and
therefore does not require shareholder approval, however completion
of the Placing and the SatoshiPay Subscription remains subject to
the conditions set out in the Transaction Announcement.
Pursuant to the Placing, application will be made for the
466,666,667 Placing Shares to be admitted to trading on AIM.
Subject to completion of the Placing it is anticipated that
admission of the Placing Shares will occur at 8.00 a.m. on or
around 19 January 2017. The Placing Shares will be credited as
fully paid and rank pari passu with the existing Ordinary Shares.
Following admission of the Placing Shares to trading on AIM, the
Company's enlarged issued share capital will comprise 966,829,290
Ordinary Shares. The Company holds zero shares in treasury.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 ("MAR").
For further information, please contact:
Blue Star Capital
plc
Tony Fabrizi +44 (0) 777 178 2434
Cairn Financial Advisers
LLP +44 (0) 20 7213 0880
(Nominated Adviser
and Broker)
Emma Earl/Jo Turner
About Blue Star Capital Plc
Blue Star is an investing company with a focus on technology and
its applications within media and gaming. Blue Star's investments
include a holding in Disruptive Tech Limited, an investing company
with five investments including a 38% holding in VNU Group LLC
("VNU") a speciality online direct retailer of premium goods paid
for through an instant credit facility and a holding in Nektan PL;
an investment in Sthaler, 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.
About SatoshiPay Ltd
SatoshiPay is headquartered in London with development led
through its office in Berlin. Angel funding for SatoshiPay Ltd was
supplied by Axel Springer Plug & Play and Henning Peters, seed
funding was raised through publicly listed companies Coinsilium
Group (ISDX:COIN) and FastForward Innovations (LON:FFWD).
Development of SatoshiPay's nanopayment product started in April
2015 and its beta version was released in February 2016. Find
updated information at the company's website https://satoshipay.io,
its blog https://medium.com/@SatoshiPay and Twitter
@SatoshiPay.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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