Vista Group confirms Stardust Strategic Investment

Vista Group confirms Stardust fundraising from Strategic Investor Vista Group International (NZX & ASX: VGL) has confirmed a new round of funding for its Stardust social media platform. Following the initial launch of Stardust as an App for moviegoers to share video reactions about movies they have seen, Stardust will now be expanded. New features will support a broadened goal to become the social media hub for connecting people who share a love of movies. The investment round is led by Steven ('Ste') Thompson, founder and CEO of Vista Group company Powster, who will contribute US$750,000. Additional funding from a prior investor and from Vista Group of US$375,000 each, brings the capital raise total to US$1.5million. With his investment, Mr Thompson will join the Stardust board, adding strategic value through his extensive knowledge of movie marketing and his industry relationships. Vista Group Chief Executive, Kimbal Riley, says that Mr Thompson's investment and future governance are key ingredients to support the continued success of Stardust and the direction of its ongoing growth strategies. "Ste's knowledge of the digital marketing of movies is second to none and his industry relationships extensive. We expect that both will help to open opportunities for growth, and monetization. I very much look forward to his involvement as we continue to move forward with the expansion of the Stardust platform and community." Mr Thompson comments: "In Stardust, Vista has created a social platform with a unique value proposition for the movie industry. The App enables audiences to make their own decisions on movies they go to see based on the views of their friends and like-minded people - rather than on critic assessments or promotions. With honest video content produced by an extremely passionate audience, Stardust is revolutionising the way movies are reviewed. I am massively excited about its potential, and about adding my expertise to the team." Following the capital raise, Stardust will remain a Vista Group subsidiary company with Vista Group's shareholding standing at 60% (prior to capital raising - 75.1%). Rodney Hyde Chief Financial Officer Vista Group International Ltd Contact: +64 9 984 4570 End CA:00323558 For:VGL Type:GENERAL Time:2018-09-07 11:57:56