TIDMBLU
RNS Number : 7121V
Blue Star Capital plc
16 April 2021
16 April 2021
Blue Star Capital plc
("Blue Star" or the "Company")
Exercise of Warrants, Placing and New Investment
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, announces, further to its announcement of 15
April 2021, that it has raised approximately GBP1.02 million,
before expenses, pursuant to a placing of 142,857,143 new ordinary
shares and the exercise of 442,221,889 warrants (together the
"Fundraise") both at a price of 0.175p per new ordinary share ("the
Issue Price"). As a result of the Fundraise, the company has
allotted a total of 585,079,032 new ordinary shares ("New Ordinary
Shares") representing approximately 11.9 per cent. of the Company's
enlarged issued share capital. The placing has been conducted by
Kiyo Capital Limited.
The Company intends to use the proceeds of the Fundraise to
provide it with general working capital and additional funds for
investment in new and existing opportunities. As previously
announced, the Company is considering making a further investment
in Dynasty eSports Pte Ltd and is pleased to announce an investment
in NFT Investments plc ("NFT"), further details of which are set
out below.
Investment in NFT Investments plc
The Company is pleased to announce that is has invested
GBP200,000 in the IPO of NFT which admitted to trading on the AQSE
Growth Market earlier today. The Company had previously made an
investment in an earlier funding round of NFT and, as a result of
the further investment today, holds 9,000,000 ordinary shares
representing approximately 0.9 per cent. of NFT's issued share
capital.
NFT has been launched by the co-founders of Argo Blockchain to
invest in non-fungible tokens, a specialised class of assets that
certifies authenticity and proof of ownership of digital assets.
NFT advises it is the world's first pure-play investment company
focused exclusively on investing in non-fungible tokens to launch
on a stock market in a major jurisdiction worldwide.
Fundraise, Admission to AIM and Total Voting Rights
The Fundraise has raised approximately GBP1.02 million pursuant
to the issue of New Ordinary Shares at the Issue Price. The
warrants exercised in the Fundraise were granted in November 2019
and June 2020 and are due to expire on or before 8 June 2021. Derek
Lew, a director of the Company, also holds 45,000,000 warrants
which are due to expire on 6 May 2021. It is the intention of Derek
Lew, who has not exercised his warrants as part of the Fundraise,
to exercise his warrants shortly and a further announcement will be
made in due course in the event of any such exercise.
The New Ordinary Shares will rank pari passu with the existing
ordinary shares. Application will shortly be made to the London
Stock Exchange to admit the New Ordinary Shares to trading on AIM
("Admission") which is expected to occur on or around 23 April
2021.
As a result of their participation in the Fundraise, Pioneer
Media Holdings inc. will, on Admission, hold 322,916,333 ordinary
shares representing 6.6 per cent. of the Company's enlarged issued
share capital.
Following Admission of the New Ordinary Shares, the Company's
issued share capital will comprise 4,913,328,550 ordinary shares
which may be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change in their interest
in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules. The Company does not hold any
shares in treasury.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information, please contact:
Blue Star Capital plc +44 (0) 20 3608 3019
Derek Lew
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
(Nominated Adviser)
Jo Turner / Liam Murray / Mark
Rogers
S tanford Capital Partners Limited
(Broker)
Patrick Claridge / John Howes /
Bob Pountney +44 (0) 20 3815 8880
About Blue Star Capital
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include a 27.7% holding in
SatoshiPay, a payments business using blockchain technology;
investments in 6 early stage esports companies with shareholdings
ranging from 5.9% to 13.6% and a 0.9% investment in Sthaler, an
identity and payments technology business which enables a consumer
to identify themselves and pay using just their finger.
Forward-Looking Statements
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
The Company cautions shareholders and prospective shareholder
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
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