Blue Star Capital (LSE:BLU)
Historical Stock Chart

From Apr 2021 to Apr 2024

TIDMBLU

RNS Number : 8340M

Blue Star Capital plc

24 September 2021

24 September 2021

Blue Star Capital plc

("Blue Star" or the "Company")

Option Scheme and Grant of Options

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, technology and its applications within media and gaming, announces, further to its announcement of 29 June 2021, that it has adopted a share option scheme (the "Scheme") and granted share options to certain directors.

The terms of the Scheme, which is to incentivise management performance for the benefit of all shareholders by way of options which are subject to time and performance conditions, provide that a maximum of 10 per cent. of the Company's issued share capital in aggregate, from time to time, may be issued without the prior approval of shareholders of the Company. The exercise period for options granted under the Scheme is 10 years from the date of grant and the exercise price at grant is ordinarily expected to be at or around the mid-market closing price on or around the day before the grant of any options.

Vesting criteria for options granted under the Scheme are as follows:

 
 Amount Vesting             Time Condition                  Performance Condition 
 33.3 per cent. ("Tranche   On the business day following   the share price being 
  One")                      the date of grant ("Tranche     at least 10 per cent. 
                             One Vesting Date")              higher than on the Grant 
                                                             Date 
 33.3 per cent. ("Tranche   On the business day following   the share price being 
  two")                      the first financial year        at least 20 per cent. 
                             end following the date          higher than on the Grant 
                             of grant ("Tranche Two          Date 
                             Vesting Date") 
 33.3 per cent. ("Tranche   On the business day following   the share price being 
  two")                      the second financial year       at least 30 per cent. 
                             end following the date          higher than on the Grant 
                             of grant ("Tranche Three        Date 
                             Vesting Date") 
 

Vesting conditions may be varied or waived provided that any varied vesting condition shall be a fairer measure of performance, as judged at the time, and no more difficult to satisfy than the original vesting condition. The Scheme provides good leaver provisions and other standard terms normally associated with such a scheme.

On 24 September 2021 ("Grant Date"), the Company granted the following options under the Scheme at the mid-market price on the Grant Date:

 
 Option holder             Number of   Exercise Price         Options Granted 
                     Options granted                         as Percentage of 
                                                         issued share capital 
                                                                on Grant Date 
 Sean King                75,000,000            0.14p                    1.5% 
 Brian Rowbotham          75,000,000            0.14p                    1.5% 
                   -----------------  ---------------  ---------------------- 
 Total                   150,000,000                                     3.0% 
                   -----------------  ---------------  ---------------------- 
 

There are no existing options in issue and, as a result of the grant of options above, the Company has outstanding options over 150,000,000 ordinary shares in aggregate representing 3.0 per cent. of the Company's issued share capital on following Admission.

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 
 
 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 6% 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.

 
 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                                     1. Sean King 
                                                  2. Brian Rowbotham 
                                           ------------------------------------------------- 
 2      Reason for notification 
       ----------------------------------  ------------------------------------------------- 
 a.     Position/Status                                1. Non-executive Director 
                                                        2. Non-executive Director 
       ----------------------------------  ------------------------------------------------- 
 b.     Initial notification/               Initial 
         Amendment 
       ----------------------------------  ------------------------------------------------- 
 3      Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       ------------------------------------------------------------------------------------- 
 a.     Name                                Blue Star Capital plc 
       ---------------------------------- 
 b.     LEI                                        213800Y6XGR31P2LKT12 
       ----------------------------------  ------------------------------------------------- 
 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 of                      Options over ordinary shares 
         the financial 
         instrument, type                    GB00B02SSZ25 
         of instrument 
 
         Identification 
         Code 
       ----------------------------------  ------------------------------------------------- 
 b.     Nature of the                       Grant of Options 
         transaction 
       ----------------------------------  ------------------------------------------------- 
 
 c.     Price(s) and volume(s)                      Price(s)                  Volume(s) 
       ----------------------------------          --------------------                  --- 
                                                         1. 0.14p            75,000,000 
          2. 0.14p                                                           75,000,000 
   --------------------------------------------------------------------  -------------- 
 
 d.     Aggregated information 
   - Aggregated Volume                 150,000,000 
   - Price                              0.14p 
 ----------------------------------  ------------------------------------------------------- 
 e.     Date of the transaction             24/9/2021 
       ----------------------------------  ------------------------------------------------- 
 f.     Place of the transaction            UK 
       ----------------------------------  ------------------------------------------------- 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHUOVARANUKUUR

(END) Dow Jones Newswires

September 24, 2021 02:00 ET (06:00 GMT)