Business
Update on Esports Investment
Update on Esports Investment.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \nRNS Number : 7390B Blue Star Capital plc 03 February 2020 \n\n3 February 2020\n \nBlue Star Capital plc\n(\"Blue Star\" or the \"Company\")\n \nUpdate on Esports Investment\n \n \nBlue Star Capital plc (AIM: BLU), the investing company with a focus on esports, technology and its applications within media and gaming, provides an update in respect of its esports investee company, Diemens Esports PTY Ltd (\"Diemens\"), formerly The Cubs Esports PTY Ltd.\n \nThe Directors of Blue Star are pleased to learn that, on 3 February 2020, its investee company Diemens announced its intention to merge with Critical Hit Entertainment PTY Ltd (\"CHE\").\n \nThe Company has been advised that the merged entity, which will continue to trade under the name CHE, is expected to be one of the largest esport service infrastructure providers in Australia with combined revenue for 2019 of AUS $600,000. CHE will own the largest high school and university student, corporate and club level organised esports networks in Australia.\n \nCHE intends to continue to develop its esports infrastructure product in Australia and anticipates raising funding to expand into developing countries in Asia. \n \nBlue Star acquired an interest of 13.3 per cent. in Diemens on 6 November 2019 and will have an interest of approximately 6.6 per cent of the merged entity immediately following the merger.\n \nTony Fabrizi, CEO of Blue Star said: \"This is an exciting development for Diemens and should provide the company with a strong platform to aggressively pursue its Asian expansion plans.\"\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \nFor further information, please contact:\n \n\n\n\n\n Blue Star Capital plc\n\n\n+44 (0) 777 178 2434\n\n\n\n\n Tony Fabrizi\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n Cairn Financial Advisers LLP\n\n\n+44 (0) 20 7213 0880\n\n\n\n\n (Nominated Adviser & Broker)\n\n\n \n\n\n\n\n Jo Turner / Liam Murray \n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\n \nAbout Blue Star Capital plc\nBlue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain tec...