4 June 2015
Guscio PLC
("Guscio" or the "Company")
Loan to Sportsdata Limited
Guscio PLC, the AIM quoted investment Company, is pleased to provide an update
on its investee company, Sportsdata Limited ("Sportsdata"), in which it holds a
30 per cent. interest.
The board of Sportsdata has announced today that it has signed an agreement
with the Charlton Athletic Community Trust ("CACT"), which is Charlton Athletic
Football Club's charitable arm, whereby CACT will promote, market and seek to
deliver the Skills2Achieve ("S2A") programme to local primary schools through
their community programme. In addition, CACT will seek to facilitate
introductions to other football clubs and related community projects.
This new business area within the football community has the potential to
rapidly accelerate the roll out of the Skills2Achieve programme. In order to
enable Sportsdata to pursue this opportunity, it requires further limited
working capital. Consequently, the Company has agreed to make a loan to
Sportsdata of £50,000. The loan is unsecured, repayable within 12 months and
attracts an interest rate of five per cent. per annum. The loan is not
convertible.
Related Party Transaction
Richard Thompson and Gail Ganney, both directors of the Company, are existing
shareholders in Sportsdata and are also on the board of Sportsdata.
Accordingly, the provision of the loan to Sportsdata constitutes a related
party transaction as defined by the AIM Rules for Companies.
John Steele, Marcus Yeoman and Tony Humphreys, all non-executive directors of
the Company, are neither shareholders in nor directors of Sportsdata and are
therefore deemed to be independent under the AIM Rules for the purposes of
considering the related party transaction (the "Independent Directors"). The
Independent Directors, having consulted with Sanlam Securities UK Limited, the
Company's nominated adviser, consider that the terms of the loan are fair and
reasonable insofar as shareholders are concerned.
Richard Thompson, Chairman of the Company, commented:
"The board of Guscio is extremely interested by the new relationship that
Sportsdata and Charlton Athletic Community Trust have developed. CACT has
recognised the immense potential and importance of the Skills2Achieve programme
for the primary school sector and will now seek to market and deliver S2A
through their extensive community school delivery system. CACT have committed
to sharing this delivery model with other key football clubs and community
programmes, giving Sportsdata access to the highly influential football sector
and its inherent delivery capability. This secondary sales channel alongside
Sportsdata's partner arrangements with the Youth Sport Trust should help create
a fast track to mass adoption of the S2A programme and build on the existing
momentum leading into the 2015/2016 academic school year.
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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