SYQ.L Regulatory News (SYQ)

20 November 2014

SyQic plc

("SyQic" or the "Group" or the "Company")

Directorate Changes

SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces that William Liu Wei Hai stepped down as Non-Executive Chairman of SyQic plc on 19th November 2014 and is succeeded by David Cotterell, who takes over the position of Non-Executive Chairman with immediate effect. In addition, Dato' Borhanuddin Osman has joined the Board as a Non-Executive Director.

Commenting on Mr Liu's departure, Jamal Hassim, CEO of SyQic, said: "William has provided outstanding leadership of the Company and the Board would like to pay tribute to his enormous contribution. I wish to place on record our appreciation of all that William has done for the SyQic Group. His involvement over the past year leaves us very well positioned to progress to the next stage of the Company's development."

Having served for the past year as a Non-Executive Director of SyQic, David Cotterell will be appointed as Non-Executive Chairman with immediate effect. David has nearly thirty years' experience in the software and computer services sector having held senior management roles with firms such as ACT Financial Systems, DST, Advent and AIM listed SQS Group plc, where he was also responsible for investor relations. He holds other IT related board level positions with AIM listed Incadea plc, RapidCloud International plc and Crossrider plc. He is also Director of the European Region for Qualitest Services.

Dato' Borhanuddin Osman has also joined the Board as a Non-Executive Director. Dato Borhan brings more than twenty years of extensive experience in the advertising industry and fourteen years in broadcasting to the SyQic Board. Dato Borhan is in his ninth term as Commercial Radio Malaysia (CRM) President, which is unprecedented in the Malaysian communications industry. He also served four terms as the Chairman of the Communications and Multimedia Content Forum of Malaysia (CMCF). In 2010, he was appointed Chairman of the Programme Department of the Asia Pacific Broadcasting Union (ABU). Dato Borhan has substantial advertising industry experience and links and will provide valuable guidance to SyQic, particularly in the development of the advertising model and strategy for the recently acquired Maaduu business and the advertising model for all other SyQic product lines.

Jamal Hassim commented: "The Board is delighted that David Cotterell has become our new Non-Executive Chairman. David brings a wealth of additional experience in both the information technology sector and the AIM market from which we can benefit.

"We are also pleased to welcome Dato Borhan as a Non-Executive Director. His extensive experience within advertising and broadcasting will prove invaluable in helping us gain maximum benefit from recently acquired Maaduu's advertising revenue model as we deploy this across our various product lines."

For further information:

Regulatory information

Dato Borhanuddin Osman (aged 59)

Dato Borhanuddin Osman is not a director or partner of any companies or partnerships and, aside from Astro Malaysia Holdings, he has not been a director or partner of any companies or partnerships during the last five years.

There are no further disclosures to be made in relation to Dato Borhanuddin Osman under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.

Notes to editors:

SyQic is afast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices. Incorporated in Jersey and headquartered in the UK, it has a significant service footprint in the Philippines, Indonesia and Malaysia. 

The Group has access to over 20,000 hours of premium video-on-demand content and International video content. This content is delivered through SyQic's platforms via a number of channels in the movies, drama, music, sports, news, lifestyle and general entertainment genres.

In addition, SyQic has previously launched international OTT services for the Bangladeshi and Filipino communities in the UK and Malaysia and these services will soon be launched in other regions. Other migrant content launches are planned in the near term. 

The Group has also recently launched its newly acquired Maaduu service in Indonesia and Malaysia, which streams high demand Korean content utilising an advertising revenue model.