SyQic PLC Notice of AGM (8906Q)

TIDMSYQ

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                                     Tel: [phone] (via Walbrook) 
 Jamal Hassim, Group Chief Executive Officer 
 Steve Elliff, Chief Financial Officer 
 www.syqic.com 
Allenby Capital Limited                       Tel: [phone] 
 Jeremy Porter / Nick Naylor                   www.allenbycapital.com 
Walbrook, Financial PR and IR                 Tel: [phone] 
 Paul Cornelius                                [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 05, 2016 02:47 ET (07:47 GMT)