Yuma Ventures Limited Statement of intention not to make an offer (0243P)

TIDMSYQ

RNS Number : 0243P

Yuma Ventures Limited

11 November 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE CODE).

For immediate release

11 November 2016

Yuma Ventures Ltd ("Yuma") announces it does not intend to make an offer for Syqic plc ("Syqic")

Syqic announced on 20 April 2016 that it was in discussions with Jamal Hassim, Chief Executive of SyQic, and MMV Investments (HK) Limited, a company owned by Johan Robb, (together "Bidco"), in connection with a possible offer for the whole of the issued share capital of the Company. The Company subsequently announced that Yuma, currently owned by Jamal Hassim, was being considered by Bidco as the entity to be used for any possible offer by Bidco for the Company.

After extensive discussions with the independent directors of Syqic, Yuma has not been able to agree a price with the independent directors of Syqic, and Yuma and Bidco now confirm that they do not intend to make an offer for Syqic.

This announcement is made in accordance with Rule 2.8 of the Code. As a result of this announcement, Yuma and Bidco will, except with the consent of the UK Panel on Takeovers and Mergers, be bound by the restrictions contained in Rule 2.8 of the Code.

Enquiries:

Yuma/Bidco Tel: [phone]

Jamal Hassim

This information is provided by RNS

The company news service from the London Stock Exchange

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November 11, 2016 11:52 ET (16:52 GMT)