Disposal of interest in Blue Star Capital PLC

RNS Number : 5945B

FastForward Innovations Limited

05 April 2017

 

5 April 2017

FastForward Innovations Ltd

("FastForward" or the "Company")

Disposal of interest in Blue Star Capital PLC

The Company announces that it has placed out its entire holding of 268,213,880 shares of Blue Star Capital PLC ("Blue Star") for a cash consideration (after costs) of £305,763.

The shares of Blue Star were acquired as consideration for the sale of the Company's holding SatoshiPay Ltd ("SatoshiPay").announced on 2^nd March 2017. In order to facilitate this sale Blue Star agreed to waive all lock-in and orderly market arrangements entered into under the sale and purchase agreement dated 1^st March 2017.

Lorne Abony, Chief Executive of Fast Forward, commented: "The carrying cost of the Blue Star investment is £117,630 and the disposal will result in realized profit of £188,133.  This is the first of what I hope will be several events in the medium term where we are able to both generate profits and successfully monetize investments within our portfolio and is a vindication of the board's long term strategic plan"

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR")/

For further information please visit www.fstfwd.co or contact:

FastForward  Innovations Limited [e-mail] Josh Epstein / Ian Burns

Beaumont Cornish Limited (Nomad) James Biddle / Roland Cornish Tel: [phone]

Optiva Securities Limited (Broker) Ed McDermott/ Jeremy King Tel: [phone]

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of Fast Forward Innovations Ltd. There can be no assurance that such statements will prove to be accurate, achievable or recognizable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Fast Forward Innovations assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

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