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LONDON (Alliance News) - Shares in Blue Star Capital PLC where suspended from trading Thursday after it announced a potential reverse takeover with investee SatoshiPay Ltd.
Blue Star has a 30% stake in SatoshiPay, following a fundraise by the online payments platform on Wednesday worth EUR566,000, with the interest worth around EUR5.3 million.
The company has signed a heads of terms to acquire the rest of SatoshiPay, and the fact it would be a reverse takeover means its shares have been suspended temporarily.
As a result of the talks, Blue Star will not be converting a EUR200,000 convertible loan note it made to SatoshiPay in December until the talks either complete or are ended.
