(Bloomberg) -- A London-based software company aiming to tackle obesity in school children doesn't know why its shares are surging.
Guscio Plc, the holding company of Skills2Achieve developer Sportsdata, rose as much as 133 percent on the London Stock Exchange's Alternative Investment Market on Tuesday.
“The directors of Guscio have noted the recent rise in the Company's share price and confirm that they know of no reason for this price movement,” Guscio said in a statement, adding that it continues to pursue the initiatives outlined in its annual report.
Skills2Achieve, founded by mother of four, secondary school governor and engineering graduate Gail Ganney, allows teachers and parents to track school children's physical activity and nutritional intake.
“We are actively seeking acquisitions, and I would be disappointed if we hadn't made significant progress by the end of the year,” Ganney said by phone when contacted by Bloomberg News, adding that the company is “very bullish” on the well-being technology sector.
Ganney's efforts have drawn comparisons with British chef Jamie Oliver, who was credited with persuading the U.K. government to impose a sugar tax on soft drinks last year.
The trading volume in Guscio shares on Tuesday was 2,000 percent of the three-month average according to data compiled by Bloomberg, with 3.5 million pounds ($4.4 million) worth of shares traded.
To contact the reporter on this story: Joe Easton in London at jeaston7@bloomberg.net. To contact the editors responsible for this story: Adveith Nair at anair29@bloomberg.net, Lukas Strobl, Nate Lanxon
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