Business
Placing, Director's Dealing and Investment
Placing, Director's Dealing and Investment.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \n \n RNS Number : 9566J\n Blue Star Capital plc\n 17 April 2020\n \n \n \n \n 17 April 2020\n \n \n \n \n \n Blue Star Capital plc\n \n \n (\"Blue Star\" or the \"Company\")\n \n \n \n \n \n Placing, Director's Dealing and Investment\n \n \n \n \n \n \n \n \n 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 £100,000 by way of a placing of 100,000,000 new ordinary shares at 0.1p each (the \"Placing\") and has made an investment in the mobile gaming space. \n \n \n \n \n \n \n \n \n Placing, Director's Dealing and Issue of Equity\n \n \n \n \n \n The Company has raised £100,000 (before expenses) through the issue of 100,000,000 new ordinary shares (\"Placing Shares\") at a price of 0.1p per ordinary share (the \"Placing Price\"), conditional on the admission of such new ordinary shares to trading on AIM (\"Admission\"). The investment has been made by Jonathan Bixby, through Pioneer Media Holdings Inc.\n \n \n \n \n \n On 14 October 2019, the Company announced that had agreed to issue warrants to Jonathan Bixby, through his Company Toro Consulting Ltd, in consideration of the introduction of certain esports investment opportunities and to provide the Company with potential future funding. The warrants were issued in three tranches with maturity dates of 6 months, 12 months and 18 months from the date of grant (being 6 November 2019) which was intended to match the development of the investment opportunities introduced. The Company notes that, whilst the esports portfolio companies in which it invested continue to make progress, development is slower than originally anticipated in light of the COVID-19 pandemic. As a result of the slower development and the investment by Pioneer Media Holdings Inc, the Company has agreed to extend the terms of each of the tranches of warrants by 6 months such that their maturity will now be 12 months, 18 months and 24 months following the date of grant. \n \n \n \n \n \n In addition to the Placing, Derek Lew, a director of the Company has invested £17,500 by electing to received accrued director's remuneration in shares at the Placing Price. As a result, the Company has issued a further 17,500,000...