Business
Trading Update
Trading Update.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n Blue Star Capital plc\n21 December 2007\n\n\n21 December 2007\n\n\n Blue Star Capital plc\n\n (' Blue Star' or 'the Company')\n\n Investment Update\n\n\nBlue Star Capital plc (AIM: BLU), the company created to provide seed capital\nfor early stage companies, issues the following investment update.\n\nExisting Investments\n\nEseekers LTD (ShareNow.com) the developers of the innovative internet\nself-publishing file-sharing application has just successfully completed a US$4\nmillion fund raising that values Eseekers LTD at US$40 million, an increase of\n166% on the previous valuation.. Blue Star has, up to this point, invested\nGBP300,000 and owns 3.54% of the company valuing its shareholding after the\nfund-raising at US Dollars 1.41 million. ShareNow enables a registered user to\ninstantly share any files and of any size on their computer with anyone else on\nthe web - without the need to have to upload them to anyone's servers, in\nessence, the user remains in control and ownership of their media. This is a key\ndifferential advantage in establishing ShareNow as a leading social networking\nsite in a sector that is rapidly growing.\n\nZenergy PLC (AIM: ZEN) the global manufacturer and developer of commercial\napplications for superconductive materials, has announced a fund-raising of\nGBP10 million to provide additional working capital and acceleration of its\nongoing research and commercial development. Blue Star has, up to this point,\ninvested GBP473,000 and realised net gains of GBP654,140. It currently retains\n501,277 ordinary shares and owns 1.14% of the company, valuing its shareholding\nafter the fund-raising at GBP1,586,542.\n\nBlue Star continues to hold minority investments in 5 public companies and two\nunquoted companies with a total cost of investment of GBP3,131,159 at the end of\nthe financial year to 30th September 2007; the Company has cash balances of\nGBP1,135,479.\n\nNew Investment\n\nThe PegasusBridge Fund is a new private specialist investment fund. The fund's\nobjective is to attain significant capital growth through investment in unquoted\nand some quoted shares in defence-related and security related companies\nincluding a strong focus on Homeland Security. Pegasusbridge is Europe's first\nHomeland Security Fund and Blue Star has co-investment rights alongside the\nfund. Pegasusbridge's Advisory bo...