Syqic : PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE+

19 May 2016

FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING

1% OR MORE

Rule 8.3 of the Takeover Code (the "Code") 1. KEY INFORMATION

(a) Full name of discloser:	Hawk Investment Holdings Limited
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): Thenaming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), sett/or and beneficiaries must be named.	Arthur Leonard Robert Morton Susan Margaret Howard Morton
(c) Name of offerorlofferee in relation to whose relevant securities this form relates: Use a separate fonn for each offeror/offeree	SyQic Pie
(d) If an exempt fund manager connected with an offeror/offeree,state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	18/5/2016
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "NIA"	/ NO / N+A If YES, specify which:

1. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

1. If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

1. Interests and short positions in the relevant securities of the offerer or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:	SyQic Pie Common Stock
Interests		Short positions
Number	%	Number	%
(1) Relevant securities owned and/or controlled:	508,000	1.89
(2) Cash-settled derivatives:
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	508,000	1.89

1. All interests and all short positions should be disclosed.Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

1. Rights to subscribe for new securities (including directors' and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

1. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

1. Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.The currency of all prices and other monetary amounts should be stated.

1. Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit

1. Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit

1. Stock-settled derivative transactions (including options)
2. Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

1. Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

1. Other dealings (including subscribingfor new securities)

Class of relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

1. OTHER INFORMATION
2. Indemnity and other dealing arrangements
4. Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal,relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"None
1. Agreements, arrangements or understandings relating to options or derivatives
1. Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:(i) the voting rights of any relevant securities under any option; or(ii} the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:If there are no such agreements, arrangements or understandings, state "none"None
1. Attachments
1. Is a Supplemental Fonn 8 (Open Positions) attached? ¥ES/NO

Date of disclosure:	19 May 2016
Contact name:	Nicky Chippendale
Telephone number:	01481724136

1. Public disclosures under Rule 8 of the Code must be made to a Regulatory lnfonnation Service and must also be emailed to the Takeover Panel at [e-mail] . The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on [phone].The Code can be viewed on the Panel's website at www.thetakeoverpanel.orq.uk .