TIDMBLU

RNS Number : 4438B

Blue Star Capital plc

04 April 2017

Blue Star Capital plc

("Blue Star" or the "Company")

Further re: investment in SatoshiPay

Blue Star Capital plc (AIM: BLU), the investing company with a focus on technology and its applications within media and gaming, announces an update following its announcement on 2 March 2017 regarding its further investment in SatoshiPay ("Investment") and issue of 268,213,880 new ordinary shares of Blue Star to FastFoward as consideration for the Investment (the "Announcement").

At the time of entering into the SPA regarding the Investment, as a result of the Consideration Shares to be issued to FastForward comprising approximately 21.7 percent. of the issued share capital of the Company, the Directors of Blue Star considered that it was in the best interests of shareholders for the Consideration Shares to be subject to a staged lock-in agreement over a period of 9 months ("lock-in arrangements"). Following the Announcement and completion of the Investment, the Directors believe that the lock-in arrangements may have led to the share price of Blue Star under-performing compared to the Director's expectations whilst shareholders and potential new investors wait for each lock-in period to end. Taking this into account and the strong interest in the Company's placing of new ordinary shares in January 2017, the Directors have agreed that, subject to the broker finalising arrangements to place out the existing Consideration Shares to a variety of investors on terms that the Directors consider are acceptable, the lock-in arrangements may be terminated. The Directors believe that this will be in the best interests of shareholders. The Directors will provide an update in the event that the existing Consideration Shares are successfully placed-out with new shareholders.

Unless otherwise stated, capitalised terms used in this announcement have the meaning as set out in the Announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Vendor Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities

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 technology and its applications within media and gaming. Blue Star's investments include a 19.3 per cent. 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 PL; and 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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April 04, 2017 02:00 ET (06:00 GMT)

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