Disposal of Investment in Vigilant Applications

RNS Number : 1960Z

Blue Star Capital plc

25 May 2016

 

Blue Star Capital plc

("Blue Star" or the "Company")

Disposal of Investment in Vigilant Applications Limited

Blue Star Capital plc, an investing company in technology and gaming, is pleased to announce that it has disposed of its 4.9% holding in Vigilant Applications Limited ("Vigilant Applications" or "VA") to AA Management for a total consideration of £220,000 (the "Disposal"). 

Blue Star's investment in VA arose in 2012 following the acquisition by VA of the business and assets of Overtis Group Limited ("Overtis"), a company to which Blue Star had originally made a secured loan of £150,000.

The consideration received for the Disposal is in line with the carrying value of VA as at 30 September 2015 of £220,445. The net consideration of £200,000 has been received in full.

The Board continue to monitor a number of investment and corporate opportunities.

Enquiries:

Blue Star Capital plc
Graham Parr, Chairman	[phone]
Tony Fabrizi, Chief Executive	[phone]
Cairn Financial Advisers LLP	[phone]
Nomad and Broker
Emma Earl/Jo Turner

 

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