Blue Star Capital plc (LON: BLU), the investing company with a focus on technology and its applications within media and gaming, has today announced its interim results for the six months ended 31 March 2017.
Highlights during the period
· Net assets increased 31% to £2,302,330 (30 September 2016: £1,757,165).
· Loss for the period of £114,585 (2016: loss of £67,586).
· £554,274 investment in SatoshiPay to achieve a 10.68% shareholding following a fundraise by Blue Star to raise £0.7 million.
Post period highlights:
· Further investment in SatoshiPay to take Blue Star’s shareholding to 19%. 268,213,880 new Blue Star ordinary shares issued as consideration for the investment
· Significant uplift in value of Sthaler from £108,700 at 31 March 2017 to £227,000 based on Sthaler’s recent fundraise.
· Fundraise for general working capital to raise £0.20 million.
Tony Fabrizi, CEO of Blue Star Capital plc, commented: “We are pleased with the development of our current portfolio with recent increases in the value of our holding in Sthaler and positive progress at VNU (an investee company of DTL) together with the exciting addition of our investments in SatoshiPay. The Board is confident that the current portfolio has the potential for a significant improvement in net asset value and will continue to monitor corporate opportunities to enhance shareholder value.”
