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Notice of AGM

5th Dec 2016 07:00

RNS Number : 8906Q
SyQic PLC
05 December 2016
 

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

 [email protected]

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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