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MAADUU RE-LAUNCH

October 13, 2014

SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces the official re-launch of its Maaduu Korean content streaming service in Malaysia. This follows the acquisition of Maaduu, further details of which were announced on 18 August 2014.

The service, which screens the best of Korean dramas and the latest Korean pop music videos and holds licences from two of the three largest Korean broadcasters, went live in Malaysia on Sunday 12 October. This launch follows a rebranding, a system refresh and the uploading of new Korean content. Following the re-launch of the Maaduu service in Malaysia it is SyQic’s intention to also launch the service in Indonesia in November 2014.

Korean video content has been rapidly increasing in popularity since the late 1990s with Korean dramas and pop music attracting a very big following in Asia amongst a young adult demographic. Statistics from SyQic’s existing customer base reflect this phenomenon with Korean content consumption accounting for c.35% of streaming from the Company’s sites, despite only representing a small proportion of SyQic’s content portfolio. To illustrate the rate of growth in the popularity of this genre, the total value of Korea’s cultural exports has doubled since 2008 to more than $US5bn in 2012 according to Korea’s Creative Content Agency. SyQic is confident that the new offering will continue the strong growth of Maaduu’s following.

The acquisition of Maaduu gives SyQic a significant opportunity to accelerate its revenue growth through access to high demand Korean content. In addition to this, the Board of SyQic believes that considerable synergies have been created by the acquisition of Maaduu providing opportunities for the Company to generate additional revenues through pay-per-view and advertising across both the Maaduu business as well as SyQic’s existing business lines. Maaduu also allows SyQic to address different target demographic groups via its differentiated product offerings.

Jamal Hassim, CEO of SyQic, commented: ““We are delighted to be re-launching the Maaduu service so soon after acquisition with a rejuvenated portfolio of content. Maaduu has approximately 850,000 registered users as well as over 3.3 million Facebook fans, and we are confident this audience will respond positively to the new offering.”

For further information: 

SyQic plc 

Jamal Hassim, Group Chief Executive OfficerTel: +44 (0) 20 7933 8780

Steve Elliff, Chief Financial Officerwww.syqic.com

  

Allenby Capital Limited 

Alex Price / Jeremy PorterTel: +44 (0) 20 3328 5656

www.allenbycapital.coma.price@allenbycapital.com

  

Walbrook, Financial PR and IR 

Bob Huxford / Guy McDougall / Sam AllenTel: +44 (0) 20 7933 8792

 syqic@walbrookpr.com

  

Notes to Editors:

SyQic (AIM: SYQ), the fast growing provider of live TV and on-demand video content across mobile and internet enabled consumer devices, announces the official re-launch of its Maaduu Korean content streaming service in Malaysia. This follows the acquisition of Maaduu, further details of which were announced on 18 August 2014. The service, which screens the best of Korean dramas and the latest Korean pop music videos and holds licences from two of the three largest Korean broadcasters, went live in Malaysia on Sunday 12 October. This launch follows a rebranding, a system refresh and the uploading of new Korean content. Following the re-launch of the Maaduu service in Malaysia it is SyQic’s intention to also launch the service in Indonesia in November 2014. Korean video content has been rapidly increasing in popularity since the late 1990s with Korean dramas and pop music attracting a very big following in Asia amongst a young adult demographic. Statistics from SyQic’s existing customer base reflect this phenomenon with Korean content consumption accounting for c.35% of streaming from the Company’s sites, despite only representing a small proportion of SyQic’s content portfolio. To illustrate the rate of growth in the popularity of this genre, the total value of Korea’s cultural exports has doubled since 2008 to more than $US5bn in 2012 according to Korea’s Creative Content Agency. SyQic is confident that the new offering will continue the strong growth of Maaduu’s following. The acquisition of Maaduu gives SyQic a significant opportunity to accelerate its revenue growth through access to high demand Korean content. In addition to this, the Board of SyQic believes that considerable synergies have been created by the acquisition of Maaduu providing opportunities for the Company to generate additional revenues through pay-per-view and advertising across both the Maaduu business as well as SyQic’s existing business lines. Maaduu also allows SyQic to address different target demographic groups via its differentiated product offerings. Jamal Hassim, CEO of SyQic, commented: “We are delighted to be re-launching the Maaduu service so soon after acquisition with a rejuvenated portfolio of content. Maaduu has approximately 850,000 registered users as well as over 3.3 million Facebook fans, and we are confident this audience will respond positively to the new offering.”

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