Contract Win

RNS Number : 9671D

Lo-Q PLC

31 March 2011

 



31 March 2011

Lo-Q plc

("Lo-Q" or the "Company")

Contract Win

- Lo-Q to install electronic queue management system at Movie Park Germany -

- Movie Park Germany marks Lo-Q's third installation within the Parques Reunidos portfolio, Europe's second largest leisure park operator -

Lo-Q plc (AIM: LOQ), the AIM-listed provider of virtual queuing systems for theme parks and major attractions is pleased to announce that it has signed a contract to install its innovative, electronic queue management system at Movie Park Germany.  This contract represents Lo-Q's fourth new park agreement in recent weeks.

Under the terms of the agreement Lo-Q will install its VQ2020 queue management system at Movie Park Germany.  VQ2020 allows visitors, for a fee, to queue virtually for park rides and experiences, without the need to stand in line.  With the time saved, visitors are subsequently able to enjoy a greater number of amenities within the park and thereby generate increased revenue for the theme park operator. 

As well as installing the system, Lo-Q will train Movie Park Germany employees in how to effectively manage, deploy and market the system to park visitors.  More than 1.2 million individuals visited Movie Park Germany in 2010 and the Company expects to have completed installation ready for the start of the park's 2011 peak visitor season.

Movie Park Germany is a part of Parques Reunidos, Europe's second largest leisure park operator.  Today's agreement brings the total number of Lo-Q installations at Parques Reunidos venues to three, adding to those at Mirabilandia in Italy and Parque de Atracciones in Madrid, Spain.  Parques Reunidos operates, in total, 71 theme parks, water parks and nature and adventure parks across Europe, South America and the USA.

Welcoming the news Tom Burnet, Chief Executive Officer of Lo-Q plc commented:

"We are delighted to add Movie Park Germany to the list of parks benefitting from our queue-reducing, revenue-enhancing solutions.  We are particularly pleased at the extension of our relationship with Parques Reunidos, signalling a clear vote of confidence in our technology and our ability to both enhance a park visitor's experience as well as increase a park operator's revenue generating opportunity." 

Wouter Dekkers, General Manager of Movie Park Germany said:

"Movie Park is delighted to be associated with Lo-Q, the world leaders in queuing solutions. Lo-Q's virtual queuing will entitle our visitors using the Q-bots to wait for a ride without having to physically wait in line, giving them a more enjoyable experience in our park. We look forward to a successful and long term partnership with Lo-Q."

For further information, please contact:

Lo-Q plc                                                                       [phone]

Tom Burnet, Chief Executive Officer

Financial Dynamics                                                     [phone]

James Melville-Ross, Matt Dixon, Clare Thomas

CanaccordSimon Bridges, Kit Stephenson

About Lo-Q

Lo-Q plc (AIM: LOQ) designs, installs and operates systems which allow members of the public to make ride and show reservations when they visit a theme park or other attraction. The dynamic virtual queuing concept arose because of a wait in a line by Leonard Sim and his family in a Florida theme park in the 90's. The ride had mechanical problems, which meant that the almost 2 hour wait was only a waste of time.

Lo-Q plc is directed by an experienced board supported by a strong management team and dedicated staff. Our headquarters and development labs are at Ruscombe Park, Twyford, where we employ a team of highly skilled engineers carrying out our hardware, software and systems design and run our sales organisation. We have our USA headquarters in Lithia Springs, Georgia, where support, financial, installation and operational staff are based.

Lo-Q's flagship product, VQ2020, is a true virtual queuing system for theme parks. Lo-Q's proprietary hand-held units, called Q-bots, are used in major theme parks around the world. By the end of 2010 Lo-Q passed its 6 millionth user of the Lo-Q system. The company has extensive patents or patents pending in Europe, USA, Hong Kong and Japan and is investigating other markets for queuing technology.

Lo-Q also owns a Q-txt product which allows mobile phone users to reserve their place in line. Users purchase credits that are used to reserve a time to ride. The user then receives a text with details of their reservation, time and a unique code which is used to gain entry and verify their booking.

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