Loqus Holding plc – Execution of Letter of Intent

Loqus Holdings plc has announced that the Board of Directors of the Company has been seeking to maximise the value of its fleet management business and Intellectual property rights (IPR). As part of this process, discussions have been held with a number of potential purchasers, with the intention of selling this business in full or in part. The Company has on the 2nd of October 2015 signed a letter of intent with one of these purchasers, to start a due diligence exercise that will be carried out over the next months. On completion of this exercise, the Company intends to enter into negotiations which, if successful, shall lead to the conclusion of an agreement or agreements relating to the sale of its fleet management business and related IPR. Any agreement reached between the parties will be subject to approval by Company’s shareholders in a general meeting and also to any applicable regulatory approval.