Blue Star Capital plc SatoshiPay Update (4598T)
November 15 2023 - 2:00AM
UK Regulatory
TIDMBLU
RNS Number : 4598T
Blue Star Capital plc
15 November 2023
15 November 2023
Blue Star Capital plc
("Blue Star" or the "Company")
SatoshiPay Update
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, provides an update regarding its investee
company, SatoshiPay Ltd.
As part of the Company's update provided on SatoshiPay in its
half-yearly report announced on 28 June 2023, the Company announced
that SatoshiPay had retained Benchmark International, a leading
international M&A advisory business, to produce an information
memorandum in respect of precuring an accurate valuation for the
company and potential expressions of interest for its acquisition.
The Company announces that Benchmark have now started to approach
investors to establish potential interest in SatoshiPay.
Blue Star has been an investor in SatoshiPay since 2017 and has
a shareholding of 27.9 per cent. Based off of the last external
funding round that took place between February and May 2019,
SatoshiPay was valued at EUR19.2 million. The Board wishes to
stress that the process may or may not lead to an acceptable offer
for the sale of part or all of its shareholding in SatoshiPay and
Blue Star is under no obligation to accept any offers received.
It's the Board's belief that while SatoshiPay has made significant
progress in recent years, it would benefit from an investor better
equipped both financially and strategically to support SatoshiPay's
aggressive growth plans. The Board will update the market on this
process in due course.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information, please contact:
Blue Star Capital plc +44 (0) 777 178 2434
Tony Fabrizi
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
(Nominated Adviser and Broker)
Jo Turner / Liam Murray
About Blue Star
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include SatoshiPay Limited,
an incubator and service provider to de-fi businesses using
blockchain technology; Dynasty Gaming & Media Pte. Ltd., whose
B2B white label platform is a full-stack gaming ecosystem; and
Sthaler Limited, an identity and payments technology business which
enables a consumer to identify themselves and pay using just their
finger.
Forward looking statement disclaimer
Certain statements made in this announcement are forward-looking
statements. These forward-looking statements are not historical
facts but rather are based on the Company's current expectations,
estimates, and projections about its industry; its beliefs; and
assumptions. Words such as 'anticipates,' 'expects,' 'intends,'
'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions
are intended to identify forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties, and other factors, some
of which are beyond the Company's control, are difficult to
predict, and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
The Company cautions shareholders and prospective shareholder
holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the
date of this announcement. The forward-looking statements made in
this announcement relate only to events as of the date on which the
statements are made. The Company will not undertake any obligation
to release publicly any revisions or updates to these
forward-looking statements to reflect events, circumstances, or
unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory
authority.
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END
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