United States New Contract Win

RNS Number : 4436Y

Lo-Q PLC

01 March 2012

 



1 March 2012

Lo-Q plc

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

United States New Contract Win 

-Lo-Q announces new US customer for its water park technology -

- Upon completion will represent 11^th water park installation since Q-band's launch in October 2011 -

Lo-Q plc (AIM: LOQ), the AIM-listed provider of virtual queuing systems for theme parks, water parks and major attractions, is delighted to announce the signing of a new US customer for its recently launched water park product: Q-band.

Zoombezi Bay, which is owned and operated by Columbus Zoo and Aquarium, has signed a five year agreement with Lo-Q to install and operate its Q-band water park ride reservation system.  Zoombezi Bay opened in 2008 following an extensive refurbishment of the old Wyandot Lake park and has since delivered steady annual increases in attendance rates, including a large proportion of season-pass holders. 

The Zoombezi contract represents a further, significant milestone for Lo-Q's Q-band product.  Launched only in late 2011, this installation, once completed, will represent the eleventh water park globally to utilise the Q-band.

Q-band is a revolutionary RFID-enabled wristband that is both waterproof and lightweight. Guests renting the Q-band use it to reserve a "virtual" place in line at a park's most popular slides, using kiosks located throughout the park. When their reservation time arrives, guests enter via a separate entrance and scan their band to be validated.  Zoombezi Bay will offer two levels of the Q-band service for their guests to choose from, allowing them more time to enjoy the park and less time waiting in line.

Commenting on the contract award Tom Burnet, Chief Executive Officer of Lo-Q plc, said:

"Today's news is yet another example of the enthusiastic response our recently launched water park product has received from the operator community.  Both large-scale groups and individual park operators such as Zoombezi Bay have been quick to realise the revenue enhancing and experience enhancing qualities of the product and its ease of use.  Zoombezi Bay is a great family attraction and we are thrilled to be working alongside the team there."

Commenting on behalf of Zoombezi Bay, General Manager John Gannon added:

"Zoombezi Bay is excited about expanding on our unique water park experience with Lo-Q's Q-band ride reservation system. We believe our guests will greatly appreciate having the option to make ride reservations to avoid waiting in line for our exciting rides.  This will allow guests to enjoy their time at Zoombezi Bay as they choose."

For further information, please contact:

Lo-Q plc                                                                       [phone]

Tom Burnet, Chief Executive Officer

John Alder, Chief Financial Officer

FTI Consulting                                                             [phone]

Matt Dixon, Clare Thomas, James Melville-Ross

Canaccord Genuity Limited                                         [phone]

Simon Bridges, Kit Stephenson

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 product 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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