Galasys PLC Notice of GM (4490I)

TIDMGLS

RNS Number : 4490I

Galasys PLC

30 August 2016

30 August 2016

Galasys PLC

("Galasys" or "The Group")

Notice of General Meeting

The board having received a requisition, jointly signed by Soo Choon Meng and Soo Sew Lee who together hold 10.7% of the shares in the Company, pursuant to a.89 of the Companies (Jersey) Law 1991 and Article 16.2 of the Company's Articles of Association.

NOTICE IS HEREBY GIVEN THAT a General Meeting (GM) of the Company will be held at Unit 3A-2, Level 3A, Tower 9, Avenue 5, The Horizon, Bangsar South, No. 8 Jalan Kerinchi, 59200 Kuala Lumpur, Malaysia on 12 September 2016 at 11.00 a.m. (Malaysia time) to consider and vote on the following resolutions, each of which are being proposed as ordinary resolutions:

Ordinary Resolutions:

1. The proceedings involving the Company in the courts of England and Wales, Jersey and Malaysia in respect of the disputes between the directors as to the lawfulness of certain decisions and actions of the directors of the Company during the period from October, 2015 onwards are not in the best interests of the Company and shall be discontinued as soon as possible on the best terms as to costs as may be achieved.

2. Authority shall be given to the Chief Executive Officer of the Company, Mr Seah Kok Wah, to take all necessary steps immediately to discontinue all of the legal proceedings involving the Company in the United Kingdom, Jersey and Malaysia including but not limited to retaining, and terminating the retainer, of any legal advisers in such jurisdictions.

3. Henceforth, Mr Teh Kim Seng either in his capacity as an individual director of the Company or as a member of the Nomination Committee or any other committee of the Board, shall not have any authority to communicate with, direct and/or otherwise instruct Nabarro LLP, Mourant Ozannes and Zaid Ibrahim & Co in any manner whatsoever regarding the legal proceedings stated above on behalf of the Company.

4. Save and except with the express written approval of all other members of the Company's board, Mr Teh Kim Seng shall not have any authority to represent the Company in relation to the legal proceedings stated above and/or any matter related to and arising out of the legal proceedings.

5. Authority shall be given to the Chief Executive Officer of the Company, Mr Seah Kok Wah, to give written notice to Nabarro LLP, Mourant Ozannes and Zaid Ibrahim & Co respectively that Mr Teh Kim Seng in his personal capacity or any purported capacity as a member of the Nomination Committee does not have the authority to communicate with, direct, authorise and instruct them in any manner whatsoever on behalf of the Company in matter relating to the legal proceedings stated above.

The notice of the General Meeting is available from the Company's website, www.galasystec.com , in accordance with AIM rule 20.

Enquiries:

 
Galasys PLC                              + 6032858 9959 
Seah Kok Wah- Chief Executive Officer 
 Teh Kim Seng - Non-Executive Director 
Newgate                                    0203 653 9850 
Adam Lloyd/Helena Bogle 
 

About Galasys

www.galasystec.com

Galasys is a leading integrated and modular amusement park solutions and services provider to premier amusement parks in China and South East Asia. Through its proprietary systems, the Group provides amusement park operators with the ability to sell, manage and analyse tickets, visitors, merchandise sales and other amusement park operations. It has been operating since 2005 and supplies solutions and services to more than 180 amusement parks in China and South East Asia. The Group has invested more than 50 man-years in R&D and owns the intellectual properties to its software and systems. The Group currently employs and retains more than 140 people across Asia.

In recognition of the quality of the Group's solutions and services, Galasys is a merit recipient for the prestigious 2015 ASOCIO ICT Awards in the category of Outstanding ICT Company.

For more information, please visit www.galasystec.com

This information is provided by RNS

The company news service from the London Stock Exchange

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August 30, 2016 09:15 ET (13:15 GMT)