Statement re. major customer

RNS Number : 9070T

Lo-Q PLC

15 June 2009

 



Lo-Q plc

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

Statement re. major customer

Lo-Q plc, the AIM listed provider of virtual queuing systems for theme parks and major attractions, notes that its major customer, Six Flags, Inc. ('Six Flags'), has applied to the Bankruptcy District Court of Delaware for expedited approval of its pre-negotiated plan of reorganisation under Chapter 11 of the United States Bankruptcy Code.

Lo-Q looks forward to a quick resolution of this reorganisation which it believes will produce a stronger commercial company. Moreover, Six Flags has indicated that the filing will have no impact on day-to-day park operations.

Six Flags, Inc. is a publicly-traded corporation headquartered in New York City (OTCBB: SIXF) and is the world's largest regional theme park company with 20 parks across the United States, Mexico and Canada. 

Contacts:

Lo-Q plc	Jeff McManus, Chairman	Tel: [phone]
Arbuthnot Securities Limited	John Prior/Ed Burbidge	Tel: [phone]
Walbrook PR Ltd		Tel: [phone]
		Mob: [phone]
	Paul McManus	[e-mail]
	Ben Knowles	[e-mail]

  About Lo-Q plc

Lo-Q plc listed on AIM in April 2002 and has active subsidiary companies in the USA and Canada.

Lo-Q 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. 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. In August 2008 Lo-Q passed its 3 millionth user of the Lo-Q system.

The dynamic virtual queuing concept arose because of a wait in a line by Leonard Sim, the company founder and inventor of the Lo-Q System, and his family in a Florida theme park in the 90's. The ride had mechanical problems, which meant that the almost two hour wait was a waste of time.

Lo-Q's headquarters and development labs are in the Smith Centre high technology campus near Henley-on-Thames, UK, where a team of highly skilled engineers carry out hardware, software and systems design. The USA headquarters is in Lithia Springs, Georgia, near Atlanta where support, financial and installation staff are based.

The first installation went live in March 2001 and with Mirabilandia being installed on the 9th of April 2009, there will be a total of 14 sites across the world, namely: 

Six Flags Over Georgia, USA

Six Flags New England, USA

Six Flags Great Adventure, USA

Six Flags Over Texas, USA

Six Flags Fiesta Texas, USA

Six Flags St Louis, USA

Six Flags Great America, USA

Six Flags Magic Mountain, USA

Six Flags Discovery Kingdom, USA

Six Flags La Ronde, Canada

Dollywood, USA

Dreamworld, Australia

Legoland Windsor, UK

Mirabilandia, Italy

In 2007 Lo-Q acquired the Text-Q product which allows mobile phone users to reserve their place in line. Users pay a fee and using the premium rate SMS services, avoid standing in a queue. The attraction generates additional revenue. Text-Q is available at the London Dungeon and Madame Tussauds in London as well as Flamingo Land.

 

END

 

 

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