Partnership Agreement

RNS Number : 3994L

Lo-Q PLC

04 September 2012

 



4 September 2012

Lo-Q plc

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

Partnership Agreement

- Lo-Q announces partnership with The Sanderson Group -

- Agreement provides route into key Asian market -

Lo-Q plc (AIM: LOQ), the AIM listed provider of virtual queuing systems for theme parks, water parks and major attractions, today announces that it has signed a partnership agreement with The Sanderson Group ("Sanderson") to help spearhead Lo-Q's expansion into the exciting and fast growing Asian market place.

Sanderson Group is an Australian multi-national corporation with over 23 years experience in delivering high quality, themed tourist attractions. The Sanderson Group is led by an experienced multi-national team with an office network that spans nine countries across Asia, the Middle East, and Australia Pacific,

The partnership will see both firms collaborate on the promotion, sale and support of Lo-Q's products in the region. A senior Lo-Q manager will work in Sanderson's Asia Operational Headquarters in Kuala Lumpur to oversee the partnership and the smooth running of the operation. The project which will formally start in November 2012, will last for an initial one year period with an option to convert into a formal Joint Venture arrangement in November 2013 or before.

Commenting on the agreement, Tom Burnet, Chief Executive of Lo-Q said:

"This partnership is a significant milestone for Lo-Q.  We are delighted to be working with a first class operator like The Sanderson Group as we look to build our business in the world's fastest growing theme and water park market.  We believe it represents a great opportunity for both companies and look forward to combining our innovative technologies with Sanderson's local knowledge, contact base and industry expertise."

Steve Sanderson, Chief Executive of The Sanderson Group, said:

"Over the past 23 years Sanderson Group has been operating in this region we have always understood the significance of technology and the important role it plays behind the scenes in improving efficiencies while ultimately adding more value to the guests experience. Lo-Q has some marvellous technologies that align with our group's core values and philosophy. It is a true delight to be partnering with a company which is just as passionate about the guests' experience as we are. Lo-Q has so much to offer Asia with their innovation and expertise."

For further information please contact:

Lo-Q plc Tom Burnet, Chief Executive Officer John Alder, Chief Financial Officer	[phone]
FTI Consulting Matt Dixon, Clare Thomas, James Melville-Ross	[phone]
Canaccord Genuity            Simon Bridges, Kit Stephenson, Cameron Duncan	[phone]

About Lo-Q

Lo-Q is the creator of a virtual queuing system for theme parks, water parks and other leisure attractions that allows users to queue without waiting in line.  Lo-Q users reserve their place in a queue electronically and are notified when their turn is up, spending less time queuing and more time enjoying their day out.  

Lo-Q's system has been adopted by leading theme park and attraction operators globally, with customers including Parques Reunidos, Six Flags Entertainment Co, Herschend Group and Merlin Entertainments. These operators benefit not only from happier customers but also from additional revenue streams as time previously spent queuing is instead transformed in to higher spending in park restaurants, gift shops and other retail facilities.  By the end of 2011, more than seven million individuals had used a Lo-Q product and that number is growing.

The Company's technology is protected by extensive patents or patents pending in Europe, USA, Hong Kong and Japan.  The target market for this technology is large and growing, with Lo-Q currently exploring opportunities for expansion into new theme parks and new geographies as well as opportunities to develop new products for other complementary adjacent markets.

Lo-Q is listed on the Alternative Investment Market ("AIM") under the ticker "LOQ".  For further information please visit www.lo-q.com 

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