TIDMBLU
RNS Number : 5570Y
Blue Star Capital plc
17 January 2022
17 January 2022
Blue Star Capital plc
("Blue Star" or the "Company")
SatoshiPay Directorate Changes and Update
Blue Star Capital plc (AIM: BLU), the investing company with a
focus on esports, payments, technology and its applications within
media and gaming, notes the announcement by SatoshiPay, one of its
investee companies, earlier today.
SatoshiPay has today announced senior management role changes
and promotions to support the expected expansion of its business to
deliver Pendulum, an open-source blockchain intended to connect
DeFi to foreign exchange networks, and has also provided an update
on Pendulum.
Directorate and Management Changes
SatoshiPay announces that Meinhard Benn, co-founder of
SatoshiPay in 2014 and current Chief Executive Officer, is changing
his role to Chairman in order to focus on guiding the company's
long-term vision, strategic networking and high-level community
building. It also allows for the Company to put in place a Chief
Executive Officer with expertise in business scaling. Alexander
Wilke, the company's current Chief Operating Officer, will take on
the role as Chief Executive Officer. Alexander Wilke is an
entrepreneur and operations executive with more than 13 years'
industry experience leading technical and business teams focussing
on payments, mobile and business intelligence. As Chief Operating
Officer, Alexander Wilke steered large parts of SatoshiPay, headed
the strategic change in focus to cross-border payments via
DTransfer and brokered large client projects, including Axel
Springer and Börsenmedien.
In addition to his new role as Chairman, Meinhard Benn will
continue to be a director in the group holding company, SatoshiPay
Ltd, and, as a result, its current board structure will remain
unchanged. He is the largest shareholder in SatoshiPay, which makes
him an ideal person to represent the interests of all shareholders
as Chairman of the Board going forward.
In addition, SatoshiPay also announced the following senior team
changes:
-- Dr Torsten Stüber, the company's Chief Technology Officer
will also become Chief Technology Officer for Pendulum
-- Former Chief Product Officer, Dr Aaron Lindner, has become
Chief Strategy Officer with strong focus on Pendulum
-- Erasmus Hagen, who has been with SatoshiPay for more than 6
years, has been promoted to Head of Product with a strong focus on
Pendulum
-- Tansel Inanc, who over the last three years oversaw the
completion of several funding rounds, financial planning and
investor relations, has become Head of Finance
-- Minh Thu Dang has been promoted to Head of Operations
-- Daniel Kisluk, a recent hire and experienced crypto
marketeer, is joining as the Company's first ever Chief Marketing
Officer
Pendulum Update
Further to the announcement of 2 November 2021, SatoshiPay
advises that Pendulum's public testnet is currently being built and
is expected to launch shortly.
SatoshiPay has sent out an updated token launch strategy to
Pendulum's presale participants in which it advised that it has
decided to become a parachain, a blockchain running on the
decentralised node infrastructure of the Polkadot network. The
major advantages of launching as a parachain are a strong, engaged
community of developers and a secure decentralised network from
inception. As a result, SatoshiPay intends to implement a strategic
supporter round for Pendulum and, subsequently, to participate in
parachain auctions. SatoshiPay expects that the parachain status
will significantly elevate the importance of the Pendulum
ecosystem.
SatoshiPay's B2B cross-border money transfer service DTransfer,
which triggered the development of the Pendulum concept, is
expected to grow at a steady pace in the coming months. DTransfer
is being readied for its first Pendulum-based test money transfers
and it is preparing transfer corridors with solid fiat stable coins
in place.
SatoshiPay expects to provide further updates in due course.
Meinhard Benn commented:
"SatoshiPay has always been a team effort and I am very
fortunate to have brought together such a talented and motivated
group of pioneers, thinkers and creators. I fully trust the team to
deliver on our mission of connecting the world through instant
payments.
It has been an adventure navigating SatoshiPay through an
emerging industry, always pushing the boundaries of what is
technically possible. With Pendulum we are now initiating the
development of a novel blockchain - a new chapter for the whole
company, which I am excited to be part of in my new role as
Chairman of the Board.
As a digital payments company, regulatory compliance and strict
corporate governance is a strong focus for SatoshiPay. The
resulting policies and procedures guarantee a smooth transition to
our new management structure and prepare the company for the
expected rapid growth."
Derek Lew commented:
"We are pleased to see these management promotions as the
Company moves into its next phase of growth. Meinhard's move to
Chairman allows for the execution of the board's strategic vision
for SatoshiPay and Pendulum to be enhanced while Alexander's
operational experience and skill provides specific focus to
accelerate the company's growth within the crypto world. The
establishment of Pendulum and the synergistic benefits that will
exist between DTransfer and the Pendulum blockchain are
significant. We are very encouraged by the progress already made
with Pendulum and we look forward to its continued growth."
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) 20 3608 3019
Derek Lew
Cairn Financial Advisers LLP +44 (0) 20 7213 0880
(Nominated Adviser)
Jo Turner / Liam Murray
S tanford Capital Partners Limited
(Broker)
Patrick Claridge / John Howes /
Bob Pountney +44 (0) 20 3650 3650
About Blue Star Capital
Blue Star is an investing company with a focus on new
technologies. Blue Star's investments include SatoshiPay Limited, a
payments business using blockchain technology; 6 early-stage to
mid-level esports companies, including Guild eSports plc, a global
eSports business headquartered in London whose lead investor is
David Beckham and Dynasty eSports Pte Ltd., an eSports platform
with a mission to become the largest eSports franchise in Asia;
Leaf Mobile Inc., a mobile leading free-to-play mobile games group;
NFT Investments plc, a company that engages, partners, incubates
and develops non-fungible tokens; 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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