REG - Blue Star Capital - Result of General Meeting and Directorate Changes

Blue Star CapitalAnnouncement

06/11/2019 12:30

RNS Number : 5076S
Blue Star Capital plc
06 November 2019
 


 
6 November 2019
 
Blue Star Capital plc
("Blue Star" or the "Company")
 
Result of General Meeting and Directorate Changes
 
Blue Star Capital plc (AIM: BLU), the investing company with a focus on technology and its applications within media and gaming, announces that, at the general meeting held earlier today ("General Meeting"), all resolutions were duly passed. As a result, the Company will proceed to complete the Second Placing, as announced on 16 October 2019.
 
The Company further announces the appointment of Derek Lew to the Board who joins as Chairman of the Board, replacing William Henbury who retires with immediate effect.  The Board wishes to thank Mr Henbury for his service to the Company and wishes him well with his future endeavours.
 
Conclusion of the Conditional Placing and Investment in Esports Companies
 
Following the passing of the resolutions at the General Meeting, the Company will proceed to complete the Second Placing, grant the warrants and conclude three further investments in esports companies pursuant to the terms of the Investment Agreement as detailed in the Company's circular of 16 October 2019.  
 
The Company has today issued 450,000,000 new ordinary shares at a price of 0.1 pence per share raising £450,000 before expenses ("Second Placing Shares").  With the proceeds, the Company will subscribe for ordinary shares in the share capitals of each of The Cubs Esports PTY Ltd and The Drops Esports Inc for an aggregate subscription price of c.£300,000 and will subscribe for $185,000 (USD) convertible loan notes created and issued by The Dibs Esports Corp, conditional upon admission of the Second Placing Shares.
 
Application will shortly be made to the London Stock Exchange for the Second Placing Shares to be admitted to trading on AIM. The Second Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid following admission. It is anticipated that the Second Placing Shares will be admitted to trading on AIM at 8.00 a.m. on or around 12 November 2019.
 
Total Voting Rights
 
Following the issue of the Second Placing Shares, the Company will have 3,142,582,852 Ordinary Shares issue. There are no Ordinary Shares held in treasury. The figure of 3,142,582,852 may be used by the Company's shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
 
Appointment of Franklin Derek Lew
 
The Company is pleased to advise that Derek Lew has been appointed, with immediate effect, as Chairman of the Board.
 
Derek has advised, started and invested in technology companies for over 20 years. An active member of the technology community in Vancouver, he is President and CEO of venture capital fund manager GrowthWorks Capital Ltd and past-Chair of Innovate BC (formerly the British Columbia Innovation Council), the Crown Agency of the Province of British Columbia mandated to accelerate technology commercialisation. Derek is a Partner with Initio Group, a Vancouver, BC-based early-stage angel investment firm.
 
Derek started his technology career as a lawyer, advising both technology companies and investors in all areas, including life sciences, ITC and e-commerce.
 
Derek holds a Bachelor of Arts from the University of British Columbia and a Bachelor of Laws from the University of Alberta.
 
The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies:
 
Franklin Derek Lew (aged 50) is currently or has been a director of the following companies within the previous five years:
 




Current directorships/partnerships


Past directorships/partnerships
 




676408 Alberta Inc


0844962 B.C. Ltd




Aether Catalyst Solutions Inc


464971 B.C. Ltd




Bookyourdentist.com Corporation


British Columbia Innovation Council




California One Pizza Ventures Inc


Canadian Future Tel Communications Ltd




California Pizza Group Inc


Harvest Travel Agency Limited




California Two Pizza Ventures Inc


Working Opportunity Fund (EVCC) Limited




Caprice Business Development Canada Inc


 




Conation Capital Corp


 




DFJ Capital Inc


 




Dicken's Christmas Fair Ltd


 




FJL Housing Society


 




Frank & Joan Lew Charitable Trust


 




Gatineau Holdings Ltd


 




GBIF I General Partner Inc


 




Growth Works Capital Ltd


 




Initio Capital Group Inc


 




Initio Capital II GP Corp


 




Joder Management Services Ltd


 




Lilac Ventures Ltd


 




Mobio Technologies Inc


 




OHJI Holdings Ltd


 




P.T. Hero Enterprises Inc


 




Pacifica First Management


 




Plank Ventures Limited


 




Rosedale Enterprises Ltd


 




Scarlet Systems Incorporated


 




 
Following the issue of the Second Placing Shares, Derek Lew will hold 100,000,000 ordinary shares in the Company which represents 3.18 per cent of the issued share capital.
 
There is no further information to be disclosed in relation to AIM Rule 17 or paragraph (g) of Schedule Two of the AIM Rules for Companies. 
 
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


+44 (0) 777 178 2434




Tony Fabrizi


 




 


 




Cairn Financial Advisers LLP


+44 (0) 20 7213 0880




(Nominated Adviser)


 




Jo Turner / Liam Murray


 




 


 




Smaller Company Capital Limited


+44 (0) 203 651 2911




(Broker)
Rupert Williams/Jeremy Woodgate
 


 




 




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