Business
Proposed subscription and new investing policy
Proposed subscription and new investing policy.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \nRNS Number : 8130P Blue Star Capital plc 07 October 2013 \n \n\n7 October 2013\n \n \nBlue Star Capital plc\n \n(\"Blue Star Capital\" or \"the Company\")\n \nConditional Subscription for 50,000,000 Ordinary Shares and an allotment of a further 50,000,000 Ordinary Shares on the Capitalisation of the Converting Loans\n \nRemoval of share capital limit and increase in authority to issue securities\n \nProposed adoption of an investing policy\n \nNotice of General Meeting\n \n \nThe Board of Blue Star Capital announces that a circular (the \"Circular\") containing the proposals set out below and Notice of General Meeting is today being sent to shareholders and a copy is available on the Company's website www.bluestarcapital.co.uk.\n \n1 Summary\n \n· The Company has conditionally raised £150,000 before expenses by way of a Subscription by Placees for 50,000,000 New Ordinary Shares at a price of 0.3 pence per share;\n \n· The Subscription is conditional upon each of the Resolutions being duly passed at the General Meeting and Admission becoming effective by no later than 8 a.m. on 1 November 2013;\n \n· The Company intends to use the net proceeds for the general working capital requirements of the Company and to source, evaluate and execute new investment opportunities; and\n \n· The Company is also seeking shareholder authority to amend its Investing Policy, as required by the AIM Rules. \n \nUnless otherwise stated, all defined terms shall have the same meaning as in the Circular.\n \nThe General Meeting of the Company will be held at the offices of Daniel Stewart at Becket House, 36 Old Jewry, London, EC2R 8DD at 9.00 a.m. on 30 October 2013.\n \nThe Circular sets out the background to, reasons for and details of the Proposals and the General Meeting. It also explains why the Board is recommending that Shareholders vote in favour of the Resolutions.\n \n2 Introduction\n \nBlue Star announces that it proposes to raise £150,000 (before expenses) through the issue (by way of the Subscription) of 50,000,000 new Ordinary Shares at...