Last checked at 10 Oct 2023 07:00
Gunsynd PLC
("Gunsynd" or the "Company")
Investee Company Update - Low 6
Gunsynd Plc (AIM: GUN, AQSE: GUN) is pleased to announce that it has received an update from its investee company Low 6 Limited ("Low 6").
Low 6 has reached a significant milestone by generating revenue of just under £1m (unaudited) for the quarter ended 30 September 2023, and expects to continue on its current trajectory during Q2. Its financial year runs from 1 July 23 to 30 June 24. Audited revenue for the year ended 30 June 2022 was £854,851 and loss before tax was £18,350,342
Low 6 was successful in a Request for Proposal (RFP) process with 'OPTA' Stats Perform. Its work with OPTA focuses on the launch of multiple games based on Premier League statistics. Low6 also successfully launched products with Oddschecker for the new English Premier League season and signed a significant contract extension with Rush Street Interactive in North America for product development over the next 18 months.
The Company invested approximately £265,000 in Low6 and holds 0.66% of Low6's issued share capital. More information on Low6 can be found at https://low6.com/.
Forward Looking Statements
This announcement contains forward-looking statements relating to expected or anticipated future events and anticipated results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, competition for qualified staff, the regulatory process and actions, technical issues, new legislation, uncertainties resulting from potential delays or changes in plans, uncertainties resulting from working in a new political jurisdiction, uncertainties regarding the results of exploration, uncertainties regarding the timing and granting of prospecting rights, uncertainties regarding the Company's ability to execute and implement future plans, and the occurrence of unexpected events. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors.
The Directors of Gunsynd accept responsibility for this announcement.
For further information, please contact:
Gunsynd plc Hamish Harris/ Peter Ruse | +44 (0) 78 7958 4153 |
Cairn Financial Advisers LLP James Caithie / Liam Murray | +44 (0) 20 7213 0880 |
Peterhouse Capital Limited Lucy Williams | +44 (0) 20 7469 0936
|