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Blue Star invests in Oak Media

By BFN News | 07:41 AM | Tuesday 24 December, 2013


Blue Star has made an investment in Oak Media Limited. OAK is an early stage gaming technology aggregator which intends to supply solutions to mainstream brands and broadcast operators. Blue Star says this is the company's first investment in the gaming sector and follows the change in its investing policy announced in November. The board believes that the company's investment in OAK represents an excellent opportunity to create value for the Company's shareholders. Blue Star has agreed to invest £100,000 in OAK in return for 90% of the issued share capital of OAK. Under the terms of the company's investment, in order to incentivise OAK's management team, the shareholding will reduce to a minimum of 50% upon OAK achieving various milestones. As part of the investment, the directors of OAK, Andrew Middleton and Adrian Finn have received a total of 3 million new warrants each. The warrants have the same terms as those issued to the loan holders and are exercisable at a price of 0.6p until 6 October 2016. Story provided by StockMarketWire.com

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