Blue Star Capital main portfolio companies making solid progress

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Blue Star Capital plc (LON:BLU), the investing company with a focus on esports, technology and its applications within media and gaming, has today announced its final results for the year ended 30 September 2019.

Highlights:

The value of our key investments has grown marginally from £5m to £5.1m.
The Company incurred a loss for the period of £684,964 compared to a profit for the previous period of £1,471,319. The main factor behind this difference is the significant uplift achieved in SatoshiPay valuation in the prior year and the write off of the historic investment in DTL. The operating expenses of the Company remain under strict control and were lower in the current year. The cash position of the Company at 30 September 2019 was £120,828 compared with £31,416 in the previous period.
Post year end the Company placed 900m shares at 0.1p raising £900,000 before expenses and invested an equivalent amount in a portfolio of six esport businesses.

The Annual Report and notice of Annual General Meeting (“AGM”) will be posted to shareholders shortly and will be available to view on the Company’s website http://www.bluestarcapital.co.uk

Attention is drawn by the independent auditor to note 1 of the financial statements (included below), which indicates that the Company is reliant on future fund raisings to continue its activities as budgeted. Since the financial year-end, the Company has raised £900,000 before expenses and subsequently made investments in six esport companies.

The AGM will be held at the offices of Cairn Financial Advisers LLP, Cheyne House, Crown Court, 62-63 Cheapside, London, EC2V 6AX on 31 March 2020 at 12 p.m.

Tony Fabrizi Chief Executive Officer of Blue Star Capital, commented:
“The last year was one of consolidation with our main portfolio companies making solid progress in developing their businesses. Post year end, we have invested in a portfolio of esports businesses which offer significant potential and both SatoshiPay and Sthaler have more recently announced key strategic developments which offer great hope for the future. Overall, we are pleased with recent progress and the Board views the future with confidence.”