Update on investment in DTL Limited - Nektan Plc

RNS Number : 9168V

Blue Star Capital plc

03 November 2014

 



3 November 2014

Blue Star Capital plc

("Blue Star" or the "Company")

Update on investment in DTL Limited - Nektan Plc

Blue Star Capital plc, an investing company in technology and gaming delivered principally through social media and broadcast platforms, is pleased to announce that further to the announcement made by the Company on 3 October 2014, Nektan plc has today had its ordinary shares admitted to trading on AIM ("Admission").  Nektan plc is an investment of Disruptive Tech Limited ("DTL"), which is Blue Star's largest investment.  DTL is an active investor in a number of technology businesses including Nektan plc.

Nektan plc, the holding company of Nektan (Gibraltar) Limited is an international B2B provider of mobile gaming platforms. It is a developer and operator of mobile games in the regulated, interactive real money and freemium gaming spaces, delivering white label implementations to large commercial organisations that have established audiences.

Further information regarding Nektan plc can be found in its admission document, which will be available for download from Nektan plc's website: www.nektan.com 

Blue Star currently owns 864,000 shares in DTL, equating to 2.15% of the share capital of DTL.  Following Admission, DTL, via its subsidiary, Disruptive Tech Nektan Holdings Ltd ("DTNH"), now holds 13.0% of Nektan plc's ordinary share capital.  The board of DTL has agreed to a 12-month lock-in arrangement in relation to DTNH's holding in Nektan plc.  DTL has also informed Blue Star that DTL also holds certain unvested options over further ordinary shares in Nektan plc.  Once vested, if these options were to be exercised and no other options or convertible securities were to be exercised, DTL would then have an interest representing approximately 21% of Nektan plc's ordinary share capital. 

Further announcements will be made in relation to DTL as and when appropriate.

Ends

Contacts:

Blue Star Capital plc

Graham Parr, Chairman                                                       [phone]

Tony Fabrizi, Chief Executive                                                [phone]

Daniel Stewart & Company plc

Nominated Adviser & Broker

Emma Earl/David Coffman/Martin Lampshire                     [phone]

Financial PR Adviser

Rebecca Sanders-Hewett/David Ison                                  [phone]

 

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