Dynasty Esports Investment Update

RNS Number : 7151V

Blue Star Capital plc

11 August 2020

 

11 August 2020

Blue Star Capital plc

("Blue Star" or the "Company")

Dynasty 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 Dynasty eSports Pte Ltd ("Dynasty").

Dynasty has today announced that it has raised SG$3.1m (approximately £1.73 million) at a valuation of approximately £10 million to further develop its eSports Portal Management platform.

As announced on 3 August 2020, the Company has exercised its anti-dilution rights and participated in Dynasty's fundraise.  Prior to the placing, the Company held approximately 13.0 per cent of the issued share capital of Dynasty and has invested a further £225,000 to maintain its holding. Following this investment, the Company has invested a total of £428,000 in Dynasty and, based of the valuation of Dynasty in this fundraise, the Company's holding in Dynasty is valued at approximately £1.3 million.

Tony Fabrizi, CEO of Blue Star said, "We are delighted to be supporting Dynasty in its fund raise which should provide the company with sufficient capital to fully exploit its ambitious expansion plans. Dynasty is the second of our esports investments to raise money at a significant premium to our original investment and we look forward to updating the market on their progress as well as Guild and our other esports investments throughout the remainder of 2020."

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	[phone]
Tony Fabrizi
Cairn Financial Advisers LLP	[phone]
(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 6 early stage esports companies with shareholdings ranging from 11% 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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