Syqic : EXTENSION TO DEADLINE IN ACCORDANCE WITH THE CODE

ExtensionToDeadlineInAccordanceWithTheCode07jun2016

RNS Number : 3723A SyQic PLC

07 June 2016

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

This announcement is not an announcement of a firm intention to make an offer under Rule

2.7 of the City Code on Takeovers and Mergers (the "Code") and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

1. June 2016

   SyQic pie

   ("SyQic" or "the Company")

   Extension to deadline in accordance with Rule 2.6(c) of the Code

   On 18 May 2016, the Company announced that, in accordance with Rule 2.6(a) of the Code, Jamal Hassim, Chief Executive of SyQic, and MMV Investments (HK) Limited, a company owned by Johan Robb, (together "Bidco") must, by not later than 5.00 p.m.on 7 June 2016, either announce a firm intention to make an offer for the Company in accordance with Rule

   2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies .The Company also announced that it could approach the Panel on Takeovers and Mergers (the "Panel") for a further extension to this deadline in due course in accordance with Rule 2.6(c) of the Code.

   Following a request from the Independent Board of Directors of SyQic, the Panel has consented to an extension of the deadline to 5.00 p.m.on 21 June 2016, by which time Bidco must either announce a firm intention to make an offer for the Company or announce that it does not intend to make an offer for the Company.This deadline will only be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

   A further announcement will be made when appropriate.

   This announcement has been made with the agreement and approval of Bidco.Enquiries:

   SyQic

   David Cotterell, Chairman of the Independent Board

   Tel:020 79338780

   Opus Corporate Finance

   (Financial Adviser and Rule 3 Adviser) Malcolm Strang

   Tel:020 7025 3600

   Allenby Capital

   (Nomad &Broker to SyQic) Jeremy Porter/John Depasquale

   Tel:020 3328 5656

   Walbrook (PR Adviser)

   Paul Cornelius

   Tel:020 7933 8792

   DISCLAIMER

   Opus Corporate Finance LLP ("Opus"), which is regulated in the United Kingdom by The Financial Conduct Authority, is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Opus or for providing advice in relation to the matters described in this announcement.

   Allenby Capital Limited ("Allenby Capital"), which is regulated in the United Kingdom by The Financial Conduct Authority, is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Allenby Capital or for providing advice in relation to the matters described in this announcement.

   A copy of this announcement will be made available (subject to certain restrictions relating to persons resident in restricted jurisdictions) atwww .syqic .com by no later than 12 noon (London Time) on

2. June 2016, being the first business day following the date of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange