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Blue Star increases stake in SatoshiPay

By BFN News | 03:00 PM | Tuesday 04 July, 2017


Blue Star Capital confirmed that it has conditionally agreed to acquire a further 2,133 shares in SatoshiPay which, if completed, would increase the Company's holding to approximately 31.1%. The total consideration for the Acquisition is €725,220 (approximately £649,790) payable in cash to Seedcoin, a subsidiary of Coinsilium Group which is the existing holder of the SatoshiPay Sale Shares. In addition, the Company has conditionally raised approximately £650,000 through the proposed issue of 325,000,000 new ordinary shares at 0.2p to be used together with the Company's existing cash resources to satisfy the consideration payable for the Acquisition. Tony Fabrizi, CEO of Blue Star commented: "We are delighted to have increased out shareholding in SatoshiPay to over 30%. We continue to believe the potential for SatoshiPay's solution is significant. Recent enhancements to StaoshiPay's product offering has increased the Blue Star boards confidence in the company and we are delighted to have achieved a second increase in shareholding at the same valuation as our initial investment." At 3:00pm: (LON:BLU) Blue Star Capital PLC share price was 0p at 0.23p Story provided by StockMarketWire.com

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