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According to the RNS on 14 Oct 2019 Blue Star invested £150,000 in Googly Esports plc representing 11.1% of its issued share capital. I'm not sure if there has been any subsequent changes.
PD
Yes, it spread it's risk. £150,000 was also invested into Dynasty which has taken off big time.
Time will tell if googly will do the same.
Think blu need to clarify their position on this as it wasn't mentioned in the latest trading update.. unless I missed something?
BLU no longer have any holding in Googly but the fact that Dynasty are hosting the platform is obviously good news for Dynasty valuation
From the last set of accounts at companies house.
On 29 October 2021 Googly Media Holdings Pte Limited, a Singaporean entity, acquired 100% of the Company from shareholders with the intention of creating a group with sufficient funding to recommence the esports business plan originally proposed by the Company.
https://find-and-update.company-information.service.gov.uk/company/12229297/filing-history
However, Googley are still listed as a portfolio company on Blu's website:
https://bluestarcapital.co.uk/portfolio/
what do you mean we have no more holdings there , it wasnt mention in any statement we got rid of it, was it ?
Tony talked about writting those off just in case , it doesnt mean we dont own the share anymore
Gents - look at the confirmation statement - BLU hold no shares.
https://find-and-update.company-information.service.gov.uk/company/12229297/filing-history
I agree it is out of order that there was no confirmation from BLU at the time and one of the reasons I am sure that Derek was kicked out.
The last mention I can find of Googly is in the Final results RNS on 25th March 2022:
“ Our portfolio of esports companies is headlined by Dynasty (renamed Dynasty Media & Gaming in a post period announcement) and Guild Esports PLC, each of which have successfully launched their products, and the remaining six (The Drops Esports, Diemens Esports PTY, Formation Esports SAS, Googly Esports plc, The Dibs Esports Corp and Paidia esports Inc) are continuing to develop their businesses. The Board remains confident in the strong underlying trends in esports and believes in the benefit of the portfolio approach when investing in early-stage companies, and that there continues to be value to be achieved moving forward from the esports portfolio. The Board will continue to monitor their progress and will update the market when appropriate to do so.”
Just a thought - I suppose it is possible that BLU hold shares in Googly Media Holdings Pte Limited in singapore. But there gas been no confirmation of that.
TONY FABRIZI: can you explain to us share holder where those were transferred to ? what happen to OUR investment ?
Chester - its in the accounts.
On 29 October 2021 Googly Media Holdings Pte Limited, a Singaporean entity, acquired 100% of the Company from shareholders
so what what did we get ? share from Google media holdings pte or cash ?
and why the F this wasnt reported by the board or am i missing something in the financila statement and rns ?
I was just looking up the company on companies house and saw the same thing before reading your post:
15000000 transferred on 2021-10-29
0 ORDINARY SHARES shares held as at the date of this confirmation statement
BLUE STAR CAPITAL PLC
It is really covered here in the portfolia statement back in September when Tony took hold again.
‘ The remaining esports investments are carried at cost and, in light of little news, for prudence, the Company will be looking into the potential write-off of most of the smaller esports investments within the next financial statements to 30 September 2022.’
Which means it will all be in the results statement due in March - My guess is total write-off of all those stupid little start-ups that Derek Lew oversaw.
Look at the upside - Dynasty just increased in value ;-)
ragnarr - writting an investment doesnt mean you dont a share of the company anymore, so if googly were to perform for some reason we will get the cherry on top of everything else we have
Chester - have agree to disagree there as they now have no shares in Googley esports Plc - I guess we will find out in March - hope im wrong :-)
Either way there were 129m shares issued and BLU has 15m and at the time no particular tie up with Dynasty. We now know Dynasty are hosting/running/building the platform and BLU own 13.7% of Dynasty - so its good news either way. ATB
i am not talking about googly esport plc, we certainly have our investment in Googly Media Holdings Pte Limited now