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(Alliance News) - Blue Star Capital PLC said that all resolutions at its annual general meeting earlier on Wednesday were passed, leading to its investment in several new companies and the appointment of a new chair.
Blue Star has now appointed Derek Lew as chair with immediate effect. He will be replacing William Henbury, who has stepped down.
Lew is currently president & chief executive officer of venture capital fund manager GrowthWorks Capital Ltd.
In addition, Blue Star has raised a total of GBP900,000, through a firm placing of 450.0 million shares at 0.1 pence per share, and a conditional placing for the same amount of shares, which was approved at the meeting.
Shares in the media and technology-focused investment firm - which is headquartered in West Sussex - were down 6.4% at 0.10 pence on Wednesday in London.
Proceeds from the placing will go towards Blue Star investing into several esports companies.
Blue Star will pick up an 11% stake in The Lords Esports PLC and Googly Esports PLC, by investing GBP150,000 into each company.
Through a convertible loan of USD185,000, the company will take on a 14% interest in The Dibs Esports Corp.
These three investments were conditional on the firm placing. The other three investments will be funded through the conditional placing.
These consist of a 14% stake in Dynasty Esports Pte Ltd for SGD255,000, or GBP145,735; a 13% interest in The Cubs Esports Pty Ltd for AUD250,000, about GBP133,828; and a 13% holding in The Drops Esports Inc for CAD250,000, or GBP147,349.
Following the issue, Blue Star now has 3.14 billion shares issued overall.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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