Blue Star Regulatory News (BLU)

5 May 2021

Blue Star Capital plc

("Blue Star" or the "Company")

Exercise of Warrants, Issue of Equity and Director's Dealing

Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, technology and its applications within media and gaming, announces that it has today allotted 79,444,445 new ordinary shares of 0.1 pence each in the Company as a result of an exercise of warrants and the conversion of amounts due into ordinary shares.

Further to the announcement of 16 April 2021, Derek Lew, a Director of the Company, exercised warrants over 45,000,000 new ordinary shares at an exercise price of 0.175 pence on 4 May 2021. The exercise of warrants provides the Company with proceeds of £78,750.

The Company has further issued 34,444,445 new ordinary shares at 0.18 pence per share, being the closing mid-market price on 4 May 2021, in satisfaction of total outstanding amounts of £62,000 due to Derek Lew, in respect of accrued director's remuneration, and to a service provider.

Application will be made to the London Stock Exchange to admit the new ordinary shares to trading on AIM ("Admission"). Admission of the new ordinary shares, which will rank pari passu with the existing ordinary shares, is expected to occur on or around 10 May 2021.

Following this exercise of warrants and the conversion of his outstanding remuneration, Derek Lew has invested a further £128,750 in the Company. As a result, on Admission, Derek Lew will hold 211,527,778 ordinary shares, representing approximately 4.2 per cent. of the Company's issued share capital.

Total Voting Rights

Following Admission, the Company's issued share capital will comprise 4,992,772,995 ordinary shares which may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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About Blue Star Capital

Blue Star is an investing company with a focus on new technologies. Blue Star's investments include a 27.7% holding in SatoshiPay, a payments business using blockchain technology; investments in 6 early stage esports companies with shareholdings ranging from 6% to 13.6% and a 0.9% investment in Sthaler, an identity and payments technology business which enables a consumer to identify themselves and pay using just their finger.