Blue Star Regulatory News (BLU)

21 Dec 2007 07:01

Blue Star Capital plc21 December 2007 21 December 2007 Blue Star Capital plc (" Blue Star" or "the Company") Investment Update Blue Star Capital plc (AIM: BLU), the company created to provide seed capitalfor early stage companies, issues the following investment update. Existing Investments Eseekers LTD (ShareNow.com) the developers of the innovative internetself-publishing file-sharing application has just successfully completed a US$4million fund raising that values Eseekers LTD at US$40 million, an increase of166% on the previous valuation.. Blue Star has, up to this point, investedGBP300,000 and owns 3.54% of the company valuing its shareholding after thefund-raising at US Dollars 1.41 million. ShareNow enables a registered user toinstantly share any files and of any size on their computer with anyone else onthe web - without the need to have to upload them to anyone's servers, inessence, the user remains in control and ownership of their media. This is a keydifferential advantage in establishing ShareNow as a leading social networkingsite in a sector that is rapidly growing. Zenergy PLC (AIM: ZEN) the global manufacturer and developer of commercialapplications for superconductive materials, has announced a fund-raising ofGBP10 million to provide additional working capital and acceleration of itsongoing research and commercial development. Blue Star has, up to this point,invested GBP473,000 and realised net gains of GBP654,140. It currently retains501,277 ordinary shares and owns 1.14% of the company, valuing its shareholdingafter the fund-raising at GBP1,586,542. Blue Star continues to hold minority investments in 5 public companies and twounquoted companies with a total cost of investment of GBP3,131,159 at the end ofthe financial year to 30th September 2007; the Company has cash balances ofGBP1,135,479. New Investment The PegasusBridge Fund is a new private specialist investment fund. The fund'sobjective is to attain significant capital growth through investment in unquotedand some quoted shares in defence-related and security related companiesincluding a strong focus on Homeland Security. Pegasusbridge is Europe's firstHomeland Security Fund and Blue Star has co-investment rights alongside thefund. Pegasusbridge's Advisory board is Chaired by General Sir Michael Wilkes,who was previously Commanding Officer of 22 SAS. Blue Star has investedGBP300,000 in the Fund for a minority stake. Blue Star believes that the Fundmeets all the Company's strategic investment objectives as it has the potentialfor significant capital growth and a strong management team. Nigel Robertson, Blue Star's Chairman, said: "I am delighted that the companies we have invested in are meeting theirstrategic objectives. Our investments in Eseekers, Zenergy and The PegasusBridgeFund demonstrate our continuing focus on opportunities which will deliversignificant capital growth." For further information: Blue Star Capital plcNigel Robertson, ChairmanHaresh Kanabar CEO Tel: 020 7297 0010 Landsbanki Securities (UK) LimitedMark Dickenson / Sindre Ottesen Tel: 020 7426 9000 Square1 Consulting LimitedDavid Bick / Mark Longson Tel: 020 7929 5599 Notes to Editors: Eseekers LTD (ShareNow.com) Eseekers is a private company which launched the ShareNow.com portal in March2007. ShareNow's desktop application allows users to serve an unlimited numberof files to the internet directly from their own personal computer with just asimple URL. The free ShareNow internet self-publishing application is the firstof its kind to place no restrictions on file type, size or quality that userscan share without the need for recipients of the URL to register or download anyclient application. Files can be accessed directly with just a web browser byclicking a link. The Internet is a rapidly changing space and ShareNow is thenext logical step in user-generated content, social media and social networkingphenomenon taking place now by enabling users to easily share all types ofcontent with anyone with a web browser. Using ShareNow's simple service peopleare now able to completely control their own media without relying on externalservers. ShareNow is right on the curve of this fundamental change of trulyempowering users to self publish and self mange their own content. Zenergy PLC Zenergy PLC (AIM: ZEN) is a global specialist manufacturer and developer ofcommercial applications for superconductive materials. Comprising threeoperating subsidiaries located in Germany (Trithor), USA (SC Power Systems) andAustralia (Australian Superconductors), Zenergy is developing a number of energyefficient applications to be adopted in renewable energy power generation,energy efficient applications to be adopted in renewable energy powergeneration, energy distribution and large scale, energy intensive industrialprocesses. Zenergy announced on 19 December 2007 that it passed a key technical milestoneas it had successfully produced a 10 metre length of 2nd generation HTS wireusing its ground-breaking "all chemical" production process. Subject of a recentgrant from the German Ministry of Economics and Technology, Zenergy's "allchemical" production processes, are being developed with a view of making theGroup highly economically viable superconductor materials for commercialexploitation. PegasusBridge Fund The PegasusBridge Fund's objective is to attain significant capital growththrough investment in unquoted and some quoted shares of defence-related andsecurity-related technology companies including a strong focus on HomelandSecurity. These companies are located primarily in the UK but occasionally willbe elsewhere, for example in mainland Europe, Scandinavia, the USA and elsewherein the developed world. Investments will be primarily in first and second stage companies,pre-floatation companies and occasionally companies in later stages ofdevelopment, to include corporate divestments. The fund's investments will benormally in the form of equity investments (including convertible loans andother appropriate instruments). The fund will not normally seek activeparticipation on the board of directors of each investment but will ensure it isappropriately placed to advise on and influence both the strategic and tacticalmanagement decisions. End This information is provided by RNS The company news service from the London Stock Exchange