1st Jul 2019 12:31
(Alliance News) - Blue Star Capital PLC on Monday said it has raised GBP250,000 before expenses through a share placing to be used for working capital purposes and new investment opportunities.
The AIM-listed company said it issued 250.0 million new shares at a price of 0.10 pence each.
Blue Star shares were trading 13% lower on Monday at 0.104p each, giving it a market capitalisation of GBP2.1 million.
Following the admission, the investment company said it will have 2.24 billion shares overall.
Severl Blue Star directors have participated in the placing, with Chief Executive Tony Fabrizi and Non-Executive Sean King each investing GBP12,000.
Following the placing, Fabrizi's holding in the company will be 42.0 million shares, representing 1.9% of Blue Star's enlarged share capital. Meanwhile, King's holding will be 18.3 million shares, representing 0.8% of Blue Star's enlarged share capital.
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