Blue Star Capital plc Placing of Shares (3898U)

TIDMBLU

RNS Number : 3898U

Blue Star Capital plc

24 October 2017

Blue Star Capital plc

("Blue Star" or the "Company")

Placing

Issue of Equity

Director's dealing

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 it has conditionally placed 178,571,429 new ordinary shares in the Company (the "Placing Shares") at a price of 0.28 pence per share ("Placing Price") raising gross proceeds of GBP0.50 million ("Placing").

The Placing was oversubscribed and the Placing Price represents a 6.67% discount to the Company's closing price of 0.3p on 23 October 2017.

The net proceeds of the Placing of approximately GBP0.47 million will be used for general working capital purposes and to support existing investee companies where needed and should give Blue Star flexibility to look at new investment opportunities in the future. Issue of the Placing Shares is conditional on receipt of funds and Admission (as defined below).

Pursuant to the Placing, application will be made for 178,571,429 Placing Shares to be admitted to trading on AIM ("Admission"). 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 27 October 2017. The Placing Shares will be credited as fully paid and rank pari passu with the existing ordinary shares. Following Admission, the Company's enlarged issued share capital will comprise 1,881,471,741 ordinary shares and the Company does not hold any shares in treasury.

The Company also announces that as part of the Placing, Tony Fabrizi, CEO of the Company, has subscribed for 5,000,000 ordinary shares in the Company at the Placing Price of 0.28p per ordinary share. Following Admission, Mr Fabrizi will be interested in 30,000,000 ordinary shares in aggregate, representing approximately 1.6 % of the Company's enlarged issued share capital.

The subscription for Placing Shares by Tony Fabrizi, constitutes a related party transaction under the AIM Rules. With the exception of Mr Fabrizi, who is involved in the transaction as a related party, its directors consider, having consulted with the Company's Nominated Adviser, Cairn Financial Advisers LLP, the terms of this transaction to be fair and reasonable in so far as Shareholders are concerned.

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                [phone] 
 
 
 Cairn Financial Advisers 
  LLP                        [phone] 
 (Nominated Adviser) 
 Emma Earl/Jo Turner 
 
 Smaller Company Capital 
  Limited                    [phone] 
 (Broker) 
  Rupert Williams/Jeremy 
  Woodgate 
 
 

About Blue Star Capital plc

Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 31% holding in SatoshiPay, a nanopayment software and blockchain company; 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 PLC; and a 1% 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.

 
 Notification of a Transaction pursuant to Article 
  19(1) of Regulation (EU) No. 596/2014 
------------------------------------------------------------------------- 
 1      Details of the person discharging managerial 
         responsibilities/person closely associated 
-----  ------------------------------------------------------------------ 
 a.     Name                          Mr Tony Fabrizi 
                                     ------------------------------------ 
 2      Reason for 
         notification 
-----  ----------------------------  ------------------------------------ 
 a.     Position/Status               Director 
-----  ----------------------------  ------------------------------------ 
 b.     Initial notification/         Initial notification 
         Amendment 
-----  ----------------------------  ------------------------------------ 
 3      Details of the issuer, emission allowance 
         market participant, auction platform, auctioneer 
         or auction monitor 
       ------------------------------------------------------------------ 
 a.     Name                          Blue Star Capital 
-----  ----------------------------  ------------------------------------ 
 b.     LEI                           N/A 
-----  ----------------------------  ------------------------------------ 
 4      Details of the transaction(s): section to 
         be repeated for (i) each type of instrument; 
         (ii) each type of transaction; (iii) each 
         date; and (iv) each place where transactions 
         have been conducted 
-----  ------------------------------------------------------------------ 
 a.     Description                   Common Shares of no par value 
         of the financial 
         instrument, 
         type of instrument 
 
         Identification                ISIN: GB00B02SSZ25 
         Code 
-----  ----------------------------  ------------------------------------ 
 b.     Nature of the                 Issue of Equity 
         transaction 
-----  ----------------------------  ------------------------------------ 
 
 c.     Price(s) and                   Price(s)           Volume(s) 
         volume(s)                      per share 
-----  ----------------------------   -----------------  ------------- 
                                       0.28p              5,000,000 
                                      -----------------  ------------- 
 
 d.     Aggregated 
         information 
                                        5,000,000 
         - Aggregated 
         Volume                         0.28p pence per share 
 
         - Price 
-----  ----------------------------  ------------------------------------ 
 e.     Date of the                   27 October 2017 
         transaction 
-----  ----------------------------  ------------------------------------ 
 f.     Place of the                  London AIM 
         transaction 
-----  ----------------------------  ------------------------------------ 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 24, 2017 02:00 ET (06:00 GMT)