Business
Placing, investment in SatoshiPay, notice of GM
Placing, investment in SatoshiPay, notice of GM.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \nRNS Number : 0604K Blue Star Capital plc 04 July 2017 \n\nBlue Star Capital plc\n(\"Blue Star\" or the \"Company\")\n \nPlacing to raise £0.65 million\n \nDirector Dealing\n \nProposed further investment in SatoshiPay\n \nProposed issue of Warrants\n \nNotice of General Meeting\n \n \nBlue Star Capital plc (AIM: BLU), the investing company with a focus on new technologies, is pleased to announce that it has entered into a conditional agreement to acquire 2,133 ordinary shares in the capital of SatoshiPay Ltd (\"SatoshiPay\") (\"SatoshiPay Sale Shares\"), which, if completed, would increase the Company's holding in SatoshiPay to approximately 31.1 per cent. (the \"Acquisition\"). SatoshiPay is a nanopayment software and blockchain company.\n \nThe total consideration for the Acquisition is €725,220 (approximately £649,790) payable in cash to Seedcoin Limited, a subsidiary of Coinsilium Group Limited (\"Coinsilium\") which is the existing holder of the SatoshiPay Sale Shares. \n \nThe Company has conditionally raised approximately £650,000 through the proposed issue of 325,000,000 new ordinary shares of 0.1 pence each (\"Ordinary Shares\") at a price of 0.20 pence per Ordinary Share (\"Placing Shares\") which will be used together with the Company's existing cash resources to satisfy the consideration payable for the Acquisition. \n \nThe issue of the Placing Shares, the Seller Warrants and the Director Warrants is conditional on, inter alia, Shareholders approving certain resolutions at a General Meeting, notice of which is being posted to shareholders today and which will be available on the Company's website shortly. The General Meeting is to be held at the offices of Cairn Financial Advisers LLP at Cheyne House, Crown Court, 62-63 Cheapside, London, EC2V 6AX on 21 July 2017 at 11.30 a.m.\nThe Company has also agreed, conditional on completion of the Acquisition, to grant Coinsilium 85 million warrants over new Ordinary Shares, of which 42.5 million are exerciseable at a price of 0.6 pence per Ordinary Share (representing a premium of 200% in comparison to the Placing Price) and 42.5 million are exerciseable at a price of 0.8 pence share for a 3 year period from completion of the Acquisition (together the \"Seller Warrants\"). In addition, the Direct...