Blue Star Capital PLC - Raises GBP100,000 via a placing of 100.0 million new shares at a price of 0.1 pence each, representing 2.0% of enlarged share capital. Says proceeds will be used for working capital purposes and will provide the company with working capital headroom until September. This is in line with its forecasted monthly cash burn rate and the anticipated disposal of the company's shareholding in SatoshiPay. Admission of new shares to trading on AIM is expected to occur on or around Monday next week.
Current stock price: 0.11 pence, down 3.5% in London on Wednesday
12-month change: down 31%
By Greg Rosenvinge, Alliance News senior reporter
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Blue Star (BLU)