Business
Completes Investment Manageme
Completes Investment Manageme.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n RNS Number : 0064B Blue Star Capital plc 11 August 2008 \n \nBLUE STAR CAPITAL PLC\n\n11 AUGUST 2008\n\n\n\nBLUE STAR CAPITAL PLC\n\n('Blue Star' or 'the Company')\n\nBlue Star completes an investment management agreement with PegasusBridge Fund Management Limited.\n\nBlue Star (AIM: BLU), the company created to provide seed capital for early stage companies has today successfully completed an investment management agreement ('the Agreement') with PegasusBridge Fund Management Limited ('PegasusBridge'). The Agreement continues the shift in strategic emphasis that was approved by shareholders on 3 July 2008 and highlighted in the recently announced interim results.\n\nUnder the Agreement, PegasusBridge will receive an annual management fee equal to 2 per cent. of the net asset value of the Company together with the right to a performance fee based on 20 per cent. of the capital growth of future investments made by the Company on the advice of PegasusBridge.\n\nRelated Party\n\nGiven his capacity as Chief Executive of the PegasusBridge group of companies which includes PegasusBridge Fund Management Limited, and in light of his recent appointment to the board of Blue Star, Richard Leaver is regarded as a related party.\n\nHaving consulted with Landsbanki Securities (UK) Limited, the Company's nominated adviser, the directors of the Company, with the exception of Richard Leaver, consider the terms of the Agreement to be fair and reasonable insofar as Blue Star's shareholders are concerned.\n\nEnds\n\nFor further information:\n\n\n\n\n\nBlue Star Capital plc\n\n\nTel: 020 7297 0010\n\n\n\n\nNigel Robertson, Chairman\n\n\n\n\n\n\n\nHaresh Kanabar, Chief Executive\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nLandsbanki Securities (UK) Limited\n\n\nTel: 020 7426 9000\n\n\n\n\nJeff Keating \n\n\n\n\n\n\n\nSebastian Jones\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSquare1 Consulting Limited\n\n\nTel: 020 7929 5599\n\n\n\n\nDavid Bick\n\n\n\n\n\n\n\nMark Longson\n\n\n\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUUUGGRUPRGAR \n ","length":5690,"tagName":"div"}]