FastForward Innovations sells Blue Star Capital stake

AIM-listed investor FastForward Innovations has sold its stake in technology investor Blue Star Capital for £305,763.

The 268.21m Blue Star shares were bought as consideration for the sale of the FastForward’s stake in SatoshiPay, a nanopayments company, in March.

In order for the sale to go ahead, Blue Star agreed to waive all lock-in and orderly market arrangements.

The carrying cost of the Blue Star investment was £117,630 and the sale resulted in a profit of £188,133.

FastForward chief executive Lorne Abony said: "This is the first of what I hope will be several events in the medium term where we are able to both generate profits and successfully monetise investments within our portfolio and is a vindication of the board's long term strategic plan."

Shares in FastForward Innovations were down 0.87% to 8.55p at 0900 BST.