Business
Result of Placing
Result of Placing.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \nRNS Number : 2686U Blue Star Capital plc 16 January 2017 \n\nBlue Star Capital plc\n(\"Blue Star\" or the \"Company\")\n \nResult of Placing\n \nIssue of equity\n \nBlue Star Capital plc (AIM: BLU), the investing company with a focus on technology and its applications within media and gaming, is pleased to announce that further to the announcement made earlier today (\"Transaction Announcement\") it has conditionally placed 466,666,667 new Ordinary Shares in the Company (the \"Placing Shares\") at a price of 0.15 pence per share raising gross proceeds of £0.70 million. Other than where defined, capitalised terms used in this announcement have the meanings given to them in the Transaction Announcement.\n€0.64 million (approximately £0.56 million as at 13 January 2017) of the net proceeds of the Placing are expected to be used to complete the Company's proposed investment in SatoshiPay with the remainder being used for general working capital. Completion of the investment in SatoshiPay together with completion of further investment by third parties into SatoshiPay of approximately €0.36 million (which is currently in the process of completing) would result in Blue Star owning approximately 10.68 per cent. of the enlarged issued share capital of SatoshiPay. Further details on the SatoshiPay Subscription are set out in the Transaction Announcement. \nThe Placing will utilise the Company's existing authorities and therefore does not require shareholder approval, however completion of the Placing and the SatoshiPay Subscription remains subject to the conditions set out in the Transaction Announcement. \nPursuant to the Placing, application will be made for the 466,666,667 Placing Shares to be admitted to trading on AIM. Subject to completion of the Placing it is anticipated that admission of the Placing Shares will occur at 8.00 a.m. on or around 19 January 2017. The Placing Shares will be credited as fully paid and rank pari passu with the existing Ordinary Shares. Following admission of the Placing Shares to trading on AIM, the Company's enlarged issued share capital will comprise 966,829,290 Ordinary Shares. The Company holds zero shares in treasury.\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (\"MAR\"). &nb...