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Investment in Sportsdata Limited

23rd Dec 2014 08:00

GUSCIO PLC - Investment in Sportsdata Limited

GUSCIO PLC - Investment in Sportsdata Limited

PR Newswire

London, December 23

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 thatwas approved by shareholders on 8 September 2014, it has entered into anagreement 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 developedand implemented a website application for the purposes of monitoring andimproving the physical literacy of children. The website had been developedwith Youth Sports Trust ("YST"), a leading charity for sports-driven andeducational programmes, who have developed the educational content. Theresulting programme, with which Sportsdata has entered into a collaborationagreement with, is Skills2Achieve. The principle objective of the collaborationagreement between Sportsdata and YST is to sell a license to primary schoolsthroughout the United Kingdom, enabling them to operate the website via theSkills2Achieve Programme. This collaboration agreement between the two partiesin conjunction with the well-established presence of YST in the primary schoolsector, suggests a highly beneficial competitive advantage in successfullysecuring licenses with primary schools. The Convertible Loan Note is repayable on the first anniversary of drawdown andhas an annual interest rate of five per cent. which is payable on a quarterlybasis. 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 alsoincorporates anti-dilution provisions in the event Sportsdata raises capitalfrom other sources. FOR FURTHER INFORMATION, PLEASE CONTACT: For further additional information please contact: Guscio PLCTony Humphreys / Marcus Yeoman 020 3053 1897 Sanlam Securities UK LimitedSimon Clements / Virginia Bull 020 7628 2200 Peterhouse Corporate Finance LimitedLucy Williams / Eran Zucker 020 7469 0936

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