23 December 2014
Guscio PLC
("Guscio" or the "Company" or the "Group")
Investment in Sportsdata Limited
The Company is pleased to announce that, in line with its investing policy that
was approved by shareholders on 8 September 2014, it has entered into an
agreement to provide a £125,000 nominal unsecured Convertible Loan Note (the
"Loan") to Sportsdata Limited ("Sportsdata" or the "The Borrower").
Sportsdata, a recently incorporated private technology company, has developed
and implemented a website application for the purposes of monitoring and
improving the physical literacy of children. The website had been developed
with Youth Sports Trust ("YST"), a leading charity for sports-driven and
educational programmes, who have developed the educational content. The
resulting programme, with which Sportsdata has entered into a collaboration
agreement with, is Skills2Achieve. The principle objective of the collaboration
agreement between Sportsdata and YST is to sell a license to primary schools
throughout the United Kingdom, enabling them to operate the website via the
Skills2Achieve Programme. This collaboration agreement between the two parties
in conjunction with the well-established presence of YST in the primary school
sector, suggests a highly beneficial competitive advantage in successfully
securing licenses with primary schools.
The Convertible Loan Note is repayable on the first anniversary of drawdown and
has an annual interest rate of five per cent. which is payable on a quarterly
basis. The Company is entitled to convert the Loan into ordinary shares
("Ordinary Shares") of Sportsdata at a valuation equivalent to £1.125 million
(the "Conversion Price"). Further to this, the conversion agreement also
incorporates anti-dilution provisions in the event Sportsdata raises capital
from other sources.
FOR FURTHER INFORMATION, PLEASE CONTACT:
For further additional information please contact:
Guscio PLC
Tony Humphreys / Marcus Yeoman 020 3053 1897
Sanlam Securities UK Limited
Simon Clements / Virginia Bull 020 7628 2200
Peterhouse Corporate Finance Limited
Lucy Williams / Eran Zucker 020 7469 0936
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