Placing of Shares

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 £0.50 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 £0.47 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	+44 (0) 777 178 2434
Cairn Financial Advisers LLP	+44 (0) 20 7213 0880
(Nominated Adviser)
Emma Earl/Jo Turner
Smaller Company Capital Limited	+44 (0) 203 651 2911
(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/ Amendment	Initial notification
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 of the financial instrument, type of instrument Identification Code	Common Shares of no par value   ISIN: GB00B02SSZ25
b.	Nature of the transaction	Issue of Equity
c.	Price(s) and volume(s)
			Price(s) per share	Volume(s)
			0.28p	5,000,000
d.	Aggregated information   - Aggregated Volume   - Price	5,000,000   0.28p pence per share
e.	Date of the transaction	27 October 2017
f.	Place of the transaction	London AIM