Update on investment in Vigilant Applications

RNS Number : 3985Y

Blue Star Capital plc

01 December 2014

 

1 December 2014

Blue Star Capital plc

("Blue Star" or the "Company")

Update on investment in Vigilant Applications Limited - major new contract

Blue Star Capital plc, an investing company in technology and gaming, is pleased to announce that one of its investee companies, Vigilant Applications Limited ("Vigilant Applications" or "VA"), a software development company specialising in security solutions for monitoring and shaping user behaviour, has recently been successful in securing a major new contract to supply its VigilancePro Enterprise software to NHS Wales. It is anticipated that this will result in a substantial increase in VA's revenue and that the majority of this additional revenue is expected to be recognised during 2015. This deal will enable the publically funded healthcare provider to monitor and protect its records across the whole of Wales. While this is a significant client win for VA in its own right, it is expected to open up potentially lucrative opportunities in the wider healthcare sector.

In addition, VA continues to develop its software solution for the retail market, Livestore. Currently operational at Itsu restaurants and health-food shops, the solution is now being trialled by a number of other food retailers. VA expects to be able to announce further Livestore related developments during 2015.

Blue Star currently owns approximately 4.9% of the issued share capital of VA.

Ends

Contacts:

Blue Star Capital plc

Graham Parr, Chairman                                                       [phone]

Tony Fabrizi, Chief Executive                                               [phone]

Daniel Stewart & Company plc

Nominated Adviser & Broker

Emma Earl/David Coffman/Martin Lampshire                     [phone]

Financial PR Adviser

Rebecca Sanders-Hewett/David Ison                                  [phone]

 

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