LONDON (ShareCast) - (ShareCast News) - AIM-listed investor FastForward Innovations is to sell its stake in investee company SatoshiPay, a nanopayments provider, to Blue Star Capital, a technology investment firm, for €500,140.
The company will sell its entire holding in StaoshiPay of 1,471 shares, subject to approval by Blue Star's shareholders at the next general meeting on 20 March.

The €340 per SatoshiPay share which AIM-quoted Blue Star will pay is based on the stock's price when SatoshiPay recently raised €1m, and the sale will result in FastForward acquiring a 21.7% stake in Blue Star through the consideration of 268.21m shares at 0.1585p each.

The confederation share will be subject to lock-in with three tranches of 89.4m shares locked in for three months, six months and nine months, respectively, after admission to trade on AIM followed by a three month market requirement.

The shares are expected to be admitted to AIM on 21 March and after admission Blue Star's share capital will comprise of 1.23bn shares.

Shares in FastForward Innovations were down 0.49% to 10.20p at 1143 GMT and shares in Blue Star Capital fell 3.12% to 0.16p at 1234 GMT.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE