Notice of Name Change

RNS Number : 1807S

Lo-Q PLC

05 November 2013

 



5 November 2013

Lo-Q plc

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

Notice of Change of Name

- Lo-Q plc to become accesso Technology Group plc -

 - New name reflects Company's expanded core business and offers flexibility for future growth across Global Leisure and Attractions Industry -

Lo-Q plc (AIM: LOQ), the AIM-listed provider of queuing and ticketing solutions to the attractions and leisure industry, is pleased to announce that it expects to change its name to accesso Technology Group plc ("accesso") with effect from 12 November 2013.

The proposed name change reflects the Company's expanded capabilities and expertise gained when it acquired the privately-held ticketing technology and e-commerce firm accesso LLC in late 2012. Since that time, the Company has offered two different product lines under separate brands - Lo-Q and accesso^®.

During the year, the Company has undertaken a review and decided the time is right to operate under a single name, accesso. The new name better encompasses the core capabilities of the enlarged Company and better reflects future growth ambitions of the business as a whole. The Company will use the established accesso brand name and existing brand assets - logo, imagery, and marketing - under the new name.

The company's innovative virtual queuing solutions, Qbot^SM, the original handheld device, Qband^SM, the innovative waterproof RFID wristband, and Qsmart^SM, its patented smartphone-based queuing system, will be integrated into the Company's product line under the umbrella accesso LoQueue^SM. This maintains the name that's become synonymous with helping theme park guests reduce the amount of time spent standing in lines. accesso's ticketing, mobile and eCommerce technologies will be continued to be marketed as accesso Passport solutions.

The Company name is expected to be changed by resolution of the Directors of the Company (pursuant to the Company's articles of association) on 11 November 2013.

Dealings on the London Stock Exchange under the new name are expected to commence at 8am on 12 November 2013 when the Company's TIDM (ticker symbol) will change from "LOQ" to "ACSO". The Company's FTSE classification will continue to be included under Technology - Software & Computer Services - Software.

No new share certificates will be issued in respect of existing Ordinary Shares held in certificated form. Shareholders should retain their existing share certificates which will continue to be valid. Any new share certificates issued after 12 November 2013 will bear the name accesso Technology Group plc.

In compliance with AIM Rule 26, details of the Company will be available on the new web site address www.accesso.com following the change of name becoming effective.

The Company expects to make a further announcement on 12 November 2013 to confirm that the change of name has taken effect.  

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

"The acquisition of Accesso in 2012 was transformational to our business and the technology, operations and sales synergies from the acquisition are surpassing our original expectations.

Rebranding under the Accesso banner creates a unifying umbrella brand for our products, and defines our core business well - helping theme parks and venues access technologies that optimise the guest experience and grow revenue.

We believe that the new name clearly encapsulates what the Company aspires to be, and gives us greater flexibility to enter new markets, make future acquisitions and diversify our operations around the world."

Expected timetable of Stock Exchange events:

The dates given in this expected timetable are based on the Company's current expectations and may be subject to change.

Announcement of proposed name change	Tuesday, 5 November 2013
Last day of trading on LSE of Lo-Q plc (AIM:LOQ)	Monday, 11 November 2013
Change of name to accesso Technology Group plc	Close of business on Monday, 11 November 2013
accesso Technology Group plc shares begin trading on LSE under the TIDM of ACSO.L (AIM:ACSO)	Tuesday, 12 November 2013

- Ends -

For further information, please contact:

Lo-Q plc	[phone]
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting	[phone]
Matt Dixon, Lucy Delaney, Jessica Liebmann
Canaccord Genuity Limited	[phone]
Simon Bridges, Cameron Duncan, Kit Stephenson

About Lo-Q

Lo-Q is the premier technology solutions provider to the attractions and leisure industry, focused on driving increased revenues and improved guest experiences through its range of innovative award-winning solutions operated in over 130 attractions worldwide. 

Virtual Queuing Solutions

Used by over 8 million guests since 2001, Lo-Q's range of patented virtual queuing solutions allow users to queue without having to stand in line.  Instead, they reserve their place in a queue line electronically and are notified when their turn is up.  For attraction operators, this means increased guest satisfaction and increased revenues thanks to customers being unlocked from queue lines, enjoying the rest of the attraction instead and spending time in retail and food and beverage outlets.

Whether delivered on the smartphone based; Q-smart, the waterproof RFID wristband; Q-band, or the original handheld device; Q-bot - Lo-Q's range of virtual queuing solutions are designed to deliver revenue driving systems to all theme park and water park environments.  Customers including Six Flags Entertainment, Merlin Entertainments, Parques Reunidos, Dollywood and Compagnie des Alpes are all currently benefiting from the happier guests and additional revenues that Lo-Q's virtual queuing solutions bring.  For more information visit www.lo-q.com. 

accesso Ticketing and Content Solutions

A wholly owned subsidiary of Lo-Q plc is recognized as the attraction industry's leading provider of ticketing solutions; offering a range of proprietary, fully-hosted ticketing, eCommerce, mobile and payment processing solutions to more than 100 leading venues including Six Flags Entertainment, Cedar Fair Entertainment, Herschend Family Entertainment, and Palace Entertainment.

The accesso Passport ticketing suite is a comprehensive solution built for where customers shop - OnSite. OnLine. OnTheGo. noted for a streamlined, easy-to-use design with seamlessly integrated revenue driving features that allow attractions to up-sell, cross-sell and simply-sell. Combined with level 1 PCI security certification, and 24/7 support, accesso Passport gives clients the tools, security and support they need to drive sales.

With over 2.75 million native mobile app downloads for clients so far, the accesso brand also provide content rich iPhone and Android applications that deliver added value info and functionality to attraction guests plus revenue driving mobile ticketing functionality that seamlessly integrates with the rest of the Passport Suite.  For more information visit www.accesso.com.  

 

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