LONDON (Alliance News) - AIM-listed investing company Guscio PLC on Wednesday said it has reached a deal to buy a 30% stake in Sportsdata Ltd.
Guscio entered into a deal with Sportsdata in December to provide the company with a GBP125,000 convertible loan note, with the option to increase the facility to GBP200,000.
Guscio has now exercised that option and converted the aggregate GBP200,000 into shares in Sportsdata and has sealed an additional deal to buy a further tranche of Sportsdata shares for GBP128,000, giving it a total stake in the company of 30%.
Sportsdata is a technology company which has developed a website for the purposes of monitoring and improving the physical literacy of children.
Richard Thompson, a director on the board of Guscio, is an existing shareholder of Sportsdata.
Shares in Guscio were up 3.6% to 8.55 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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