5th Dec 2016 07:00
5 December 2016
SyQic plc ("SyQic", the "Company" or the "Group")
Posting of Annual Report and Accounts and Notice of AGM
SyQic plc (AIM: SYQ), a fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, has posted to shareholders its Annual Report and Accounts for the year ended 31 December 2015 and the Notice of the Company's Annual General Meeting ("AGM") and the form of proxy for use at the AGM.
The Company currently has limited authority to issue new Ordinary Shares for cash and, therefore, in addition to the ordinary business of an AGM, the Company is proposing resolutions to seek additional authority from Shareholders to support further issues of Ordinary Shares for cash of up to 40 million shares for so long as the Company's shares remain admitted to trading on AIM. The Directors are seeking the additional authority as they consider it important to retain flexibility to finance the Company through issuing equity when required. This is in light of the fact that the audit opinion on the Company's results for the year ended 31 December 2015 included an emphasis of matter as the Company's ability to continue as a going concern is dependent, inter alia, on the collection of trade receivables and its ability to raise additional funding. In addition, it was announced on 14 November 2016 that the Directors of SyQic are reviewing a number of options with their advisers to raise additional working capital for the Company which will place the Company on a sound financial footing.
The AGM will be held at the offices of Allenby Capital Limited, 3 St Helen's Place, London EC3A 6AB at 11.00 a.m. on 21 December 2016 at the offices of Allenby Capital Limited, 3 St. Helen's Place, London EC3A 6AB and the Notice of AGM will be available shortly on the Company's website at http://www.syqic.com/.
For further information: | |
SyQic plc Jamal Hassim, Group Chief Executive Officer Steve Elliff, Chief Financial Officer www.syqic.com | Tel: +44 (0) 20 7933 8780 (via Walbrook) |
Allenby Capital Limited Jeremy Porter / Nick Naylor | Tel: +44 (0) 20 3328 5656 www.allenbycapital.com |
Walbrook, Financial PR and IR Paul Cornelius
| Tel: +44 (0) 20 7933 8790 |
Related Shares:
SYQ.L