Contract Win

RNS Number : 4726O

Lo-Q PLC

11 October 2012

 



11 October 2012

Lo-Q plc

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

Contract Win

- New Agreement signed with major US theme park operator -

- Lo-Q's Q-bot system to be installed in two parks with option to expand to additional parks -

Lo-Q plc (AIM: LOQ), the AIM-listed provider of virtual queuing systems for theme parks, water parks and major attractions, is pleased to announce that it has signed a new agreement (the "Agreement") with a major US theme park operator.

The Agreement will see Lo-Q install Q-bot, its innovative virtual queuing system, at two of the operator's parks in the USA.  Under the terms of the Agreement, the Q-bot solution will be installed in both parks for four years, with the option to extend this for a further two years. Revenue associated with the Agreement is expected to scale gradually, over time.  In addition, the Agreement grants that Lo-Q's virtual queuing systems may be extended into additional theme and water parks within the USA and globally.

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, Jessica Liebmann
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, Dollywood, Merlin Entertainments and Compagnie des Alpes. These operators benefit not only from happier customers but also from additional revenue streams as time previously spent queuing is instead transformed into higher spending in park restaurants, gift shops and other retail facilities. By the end of 2011, more than eight 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.

Products include:

Q-bot

Guests reserve a ride on their hand-held Q-bot device, allowing them to enjoy the rest of the park whilst the Q-bot virtually queues for them. When it's time to ride, the Q-bot lets them know and they head straight on to their reserved ride.

Q-smart

Q-smart puts our virtual queuing technology straight onto a smart phone. With attraction information, offers and the mobile payment & ticketing features of Q-pay, park guests can reserve, pay for and manage their rides.

Q-band

Q-band is the world's first virtual queuing solution for water parks. Using a waterproof RFID wristband, customers reserve their favourite slide at a touchscreen kiosk. The Q-band displays their wait time and once it has counted down to zero, it's time to ride and the guest heads straight onto their reserved slide. The product can also incorporate cashless payment and access control features.

Q-pay

Q-pay is our mobile payment and ticketing solution that's easily integrated into our line-up of Lo-Q products as well as attraction's existing systems.

Lo-Q is listed on the Alternative Investment Market ("AIM") under the ticker "LOQ". For further information please visit www.lo-q.com.

Ends

 

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