Blue Star Capital plc Guild Esports Investment Update (4693A)
September 29 2020 - 8:10AM
UK Regulatory
TIDMBLU
RNS Number : 4693A
Blue Star Capital plc
29 September 2020
29 September 2020
Blue Star Capital plc
("Blue Star" or the "Company")
Guild Esports Investment Update
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, is pleased to provide the following update
regarding its investee company Guild Esports plc ("Guild").
Blue Star notes that Guild has today published its prospectus,
which has been approved by the UK Listing Authority, for admission
of Guild's ordinary shares to the standard listing segment of the
Official List of the UK Listing Authority and to trading on the
Main Market for listed securities of the London Stock Exchange
("Admission").
Guild also announced that it has raised gross proceeds of
GBP20.0 million at 8 pence per share ("Placing Price"), valuing
Guild at approximately GBP41.2 million at the Placing Price.
Admission is expected to occur on 2 October 2020.
Blue Star has, to date, invested approximately GBP706,000 in
Guild and, on Admission, Blue Star will hold approximately 5.95 per
cent. of the issued share capital of Guild valuing its investment,
at the Placing Price, at GBP2.45 million. In conjunction with other
shareholders, Blue Star has entered into a lock-in and orderly
market arrangement for 12 months.
The board of the Company is pleased with the performance of its
investment in Guild and, more broadly, the development of its
esports portfolio. Since making its initial investments in November
2019 the sector has performed strongly. In addition to the strong
performance of Guild, Dynasty eSports Pte Ltd ("Dynasty") has also
achieved significant momentum and has recently raised further funds
of approximately GBP1.75 million, valuing the Company's investment
at GBP1.3 million. The Company has, to date, invested GBP428,000 in
Dynasty and holds 13 per cent. of its issued share capital
following its last fundraise.
All of the Company's other esports investments are being held at
cost of approximately GBP715,000.
Tony Fabrizi, CEO of Blue Star said, "The successful IPO of
Guild is an excellent illustration of the potential upside from
Blue Star's esports portfolio. We believe Guild has an exciting
future as a listed company and expect to see our portfolio deliver
strong performance as the sector grows in strength."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Blue Star Capital plc +44 (0) 777 178 2434
Tony Fabrizi
Cairn Financial Advisers
LLP +44 (0) 20 7213 0885
(Nominated Adviser & Broker)
Jo Turner / Liam Murray
About Blue Star Capital plc
Blue 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 technology;
investments in 7 early stage esports companies with shareholdings
ranging from 9.6% to 18% and a 0.9% investment in Sthaler, an
identity and payments technology business which enables a consumer
to identify themselves and pay using just their finger.
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