Business
Investment update on Sthaler
Investment update on Sthaler.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \nRNS Number : 3695A Blue Star Capital plc 07 June 2016 \n\nBlue Star Capital plc\n \n(\"Blue Star\" or the \"Company\")\n \nInvestment update on Sthaler\n \nBlue Star is pleased to announce that one of its investee companies Sthaler Limited (\"Sthaler\") has successfully raised £1m. Sthaler is 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. \n \nThe Company invested £50,000 in Sthaler in June 2015, in return for 1.45 per cent. of the issued share capital of Sthaler, as part of a GBP450,000 round of investment by Sthaler. This latest round of investment was carried out on a pre money valuation of £7.5m and values the Company's stake of 1.28 per cent. at £108,700.\n \nSthaler is a UK based technology business that has jointly developed Fingopay in conjunction with Hitachi. Fingopay uses a unique finger vein ID process which is considered to be more secure than finger print readers and faster than chip and pin operations. The technology is widely adopted in Japan and it is Sthaler's aim to commercialise the technology in the area of payments globally.\n \nGraham Parr, Chairman of Blue Star, commented:\n \n\"We continue to believe that Sthaler has the potential to play an important part in the payments world. This latest fund raise has been very well received and we expect to see continued progress as Sthaler's management work to maximise the Company's potential.\"\n \nEnquiries:\n \n\n\n\n\nBlue Star Capital plc\n\n\n\n\n\n\n\nGraham Parr, Chairman\n\n\n+44 778 891 6111\n\n\n\n\nTony Fabrizi, Chief Executive\n\n\n+44 777 178 2434\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP\n\n\n+44 20 7148 7900\n\n\n\n\nNomad and Broker\n\n\n\n\n\n\n\nEmma Earl/Jo Turner\n\n\n\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCDQLFBQQFLBBV\n ","length":4092,"tagName":"div"}]