StockMarketWire.com - Stamp retailer Stanley Gibbons said it had acquired 20% of Showpiece Technologies from Phoenix Asset Management Partners.

Showpiece was the fractional ownership platform through which the company was making available for sale beneficial title in fractions of the world's most valuable stamp, the 1c-Magenta.

The cash price of the transaction of £2,000 was equivalent to 20% of the value of the equity in the business, all of which was held in cash.

The other 80% was contemporaneously being purchased by Castelnau, a Company controlled by PAMP, for £8,000.

Showpiece, incorporated in August, was a technology platform business which focuses on providing fractional ownership of culturally significant items.


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