Blue Star Capital plc Subscription, Director's Dealing and Investment (8602L)
04 Mayo 2020 - 9:17AM
UK Regulatory
TIDMBLU
RNS Number : 8602L
Blue Star Capital plc
04 May 2020
4 May 2020
Blue Star Capital plc
("Blue Star" or the "Company")
Subscription, Director's Dealing and 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 that it has raised GBP35,000 by way of
subscriptions for 29,166,666 new ordinary shares at 0.12p each (the
"Subscription") for the purposes of follow-on investments, the
first of which is a follow-on investment in Guild Esports plc
(formerly The Lords Esports plc)("Guild").
The Company announced on 16 October 2019 and 6 November 2019
that it had invested in a number of eSports businesses. The terms
of these investments included anti-dilution provisions and,
following an equity fundraise by Guild since the Company's initial
investment, the Company has invested a further GBP16,000 in Guild
in order to maintain its shareholding of 11.6 per cent. of Guild.
The investment has been made at a price of 1p per share, the same
price as the Company's initial investment.
Derek Lew, a director of the Company and a director of Guild,
has subscribed for 14,583,333 new ordinary shares at a price of
0.12p per share, totalling GBP17,500, as part of the Subscription.
The Subscription is conditional on the admission of the new
ordinary shares to trading on AIM ("Admission"). Following his
subscription and Admission, Derek Lew will have an interest of
132,083,333 ordinary shares, representing 3.96 per cent. of the
Company's issued share capital following Admission.
Application will be made to the London Stock Exchange to admit
the new ordinary shares to trading on AIM. Admission of the new
ordinary shares is expected to occur on or around 8 May 2020. The
new ordinary shares will rank pari passu with the existing ordinary
shares.
Update on Leaf Mobile
On 17 April 2020, the Company announced that it had made an
investment of CDN$ 100,000 into 1182533 B.C. Ltd. (trading as Leaf
Digital Studios)("118"), conditional upon the completion of the
acquisition of 118 by Leaf Mobile Inc. (formerly Caprice Business
Developments Canada Inc.) ("Leaf") and its readmission to TSX
Venture Exchange.
The Company is pleased to note that Leaf (TSXV: LEAF) has
completed its acquisition and readmission and its shares are
trading at a price which currently values the Company's investment
at a premium of approximately 50 per cent.
Related Party Transactions
The subscription by Derek Lew, a director of the Company and a
director of Guild, and the investment in Guild are related party
transactions for the purposes of Rule 13 of the AIM Rules for
Companies (the "AIM Rules"). The directors, with the exception of
Derek Lew, consider, having consulted with the Company's nominated
adviser, Cairn Financial Advisers LLP, that the terms of the
transactions are fair and reasonable insofar as the Company's
shareholders are concerned.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 3,339,249,518 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.
Tony Fabrizi, CEO of Blue Star said: We continue to be
encouraged by our investment in Guild, and believe it's in the
Company's best interests to exercise the anti-dilution option
contained in our Guild investment agreement, and to maintain our
percentage shareholding in Guild."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Blue Star Capital plc +44 (0) 777 178 2434
Tony Fabrizi
Cairn Financial Advisers
LLP +44 (0) 20 7213 0885
(Nominated Adviser & Broker)
Jo Turner / Liam Murray
About Blue Star Capital plc
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 11% to 18% 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 Derek Lew
-----------------------------------------
2 Reason for notification
------------------------------------- -----------------------------------------
a. Position/Status 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 Ordinary Shares
the financial
instrument, type GB00B02SSZ25
of instrument
Identification
Code
------------------------------------- -----------------------------------------
b. Nature of the Director's subscription
transaction
------------------------------------- -----------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- --------------------
a) 0.12p 14,583,333
---------------------------------------------------------------- --------------
d. Aggregated information
- Aggregated Volume n/a
- Price
------------------------------------- -----------------------------------------
e. Date of the transaction 4/05/2020
------------------------------------- -----------------------------------------
f. Place of the transaction UK
------------------------------------- -----------------------------------------
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END
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May 04, 2020 10:17 ET (14:17 GMT)
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