Dynasty eSports Investment

RNS Number : 0969W

Blue Star Capital plc

21 April 2021

 

21 April 2021

Blue Star Capital plc

("Blue Star" or the "Company")

Dynasty eSports Investment

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, provides an update in respect of its investee company Dynasty eSports Pte Ltd ("Dynasty").

Further to the Company's announcement of 15 April 2021, the Company advises Dynasty has completed its fundraising round, raising US$5 million at a pre-money valuation of US$45 million.  The Company also advises that it has exercised its antidilution rights and invested approximately US$650,000 (approximately £466,000) to maintain its holding in Dynasty at approximately 13 per cent. of Dynasty's issued share capital.

To date, the Company has invested approximately £895,000 in Dynasty and, based on Dynasty's valuation of US$50 million in this latest fundraising round, the Company's holding in Dynasty is valued at approximately US$6.5 million (approximately £4.6 million).

Derek Lew, CEO, said, "We are very pleased to have been able to participate in this fundraise for Dynasty. The business, under the stewardship of CEO Matt Lodge, continues to go from strength to strength and we believe has an extremely bright future as esports continues its global expansion."

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	[phone]
Derek Lew
Cairn Financial Advisers LLP	[phone]
(Nominated Adviser)
Jo Turner / Liam Murray / Mark Rogers
S tanford Capital Partners Limited  (Broker)  Patrick Claridge / John Howes / Bob Pountney	[phone]

 

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