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Blue Star Capital Plc

INTERVIEW: Blue Star Capital plc Further re: investment in SatoshiPay

Blue Star Capital plc (LON: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”).

SatoshiPay founder Meinhard Benn talks to DirectorsTalk about its nanopayment technology. Meinhard explains what makes the system special, why it’s easy to use, how it will generate money and what we can expect to see from the company over the coming months. While SatoshiPay is not listed on the London Stock Exchange, Meinhard also explains that Blue Star Capital are a large shareholder in the company.

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 Capital Plc 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.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.