14th Nov 2007 13:17
Lo-Q PLC14 November 2007 ACQUISITION OF TEXT-Q RESERVATIONS SYSTEM Lo-Q plc ("Lo-Q" or the "Company") today announces that it has finalisedagreement with Avius Experience Ltd ("Avius") for the purchase of its Text-Qsystem, thereby expanding the range of reservation solutions the Company canoffer to the leisure industry. Text-Q allows mobile phone users to reserve a place in line for participatingattractions which have typically one or a small number of queues. Users pay afee to avoid standing in a queue line, generating additional revenue for theattraction. Text-Q is in use in the London Dungeon and three other European venues and Lo-Qwill be marketing the solution world-wide. Lo-Q plans to further enhance Text-Q,with the anticipation of further new and innovative products to be marketed byLo-Q. The consideration to Avius, a proportion of which is deferred subject to certainconditions being satisfied, is to be satisfied through cash, the issue of Lo-Qshares and options over Lo-Q shares. As part of this, 125,000 new ordinaryshares in the Company have been issued. Application has been made to the LondonStock Exchange for these new ordinary shares to be admitted to trading on AIMwhich is expected to occur on Wednesday 21st November 2007. Lo-Q's Managing Director, Leonard Sim, said: "These arrangements with Text-Q allow us to bring the benefits of virtualqueuing to visitors of smaller attractions, where there are only a few queues,perhaps only one line. We look forward to further benefit from our relationshipwith Avius in the future. Lo-Q is the world's leading supplier of virtual queuing technology to the themepark industry, and our flagship product, the VQ2020 line management system is in use in a number of Six Flags parks as well as in Dollywood." Jeff McManus 01491 577 210Lo-Q Plc John Prior/Phillip Young 020 7012 2000Arbuthnot SecuritiesLimited This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Accesso Technology Group