Tony Fabrizi Executive Chairman of Blue Star Capital (BLU) discusses portfolio progress and their strategy going forward, focussing on the investments within the sectors of esports & blockchain.
Highlights from Trading Update
Based on the current carrying valuations of Dynasty, SatoshiPay, Sthaler and the market price of the quoted investments the portfolio has a current value of approximately £11.9million which is equivalent to an estimated NAV per share of approximately 0.24p.
For the reasons highlighted above, the Board believes there is significant scope for this figure to materially increase over the next twelve to eighteen months. Accordingly, the Board intends to focus its attention and resources on supporting its two core investee companies and does not anticipate making any new investments for the foreseeable future.
In addition, the Board intend to manage the Company with a focus on funding the business, insofar as possible, through the sale of its existing non-core investments.