Investment update on Sthaler

RNS Number : 3695A

Blue Star Capital plc

07 June 2016

 

Blue Star Capital plc

("Blue Star" or the "Company")

Investment update on Sthaler

Blue Star is pleased to announce that one of its investee companies Sthaler Limited ("Sthaler") has successfully raised £1m. Sthaler is an early stage identity and payments technology business which enables a consumer to identify themselves and pay using just their finger at retail points of sale.

The Company invested £50,000 in Sthaler in June 2015, in return for 1.45 per cent. of the issued share capital of Sthaler, as part of a GBP450,000 round of investment by Sthaler. This latest round of investment was carried out on a pre money valuation of £7.5m and values the Company's stake of 1.28 per cent. at £108,700.

Sthaler is a UK based technology business that has jointly developed Fingopay in conjunction with Hitachi. Fingopay uses a unique finger vein ID process which is considered to be more secure than finger print readers and faster than chip and pin operations. The technology is widely adopted in Japan and it is Sthaler's aim to commercialise the technology in the area of payments globally.

Graham Parr, Chairman of Blue Star, commented:

"We continue to believe that Sthaler has the potential to play an important part in the payments world. This latest fund raise has been very well received and we expect to see continued progress as Sthaler's management work to maximise the Company's potential."

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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