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Tuesday 01 April, 2014

AIM

Schedule 1 - Galasys plc

RNS Number : 7046D
AIM
01 April 2014
 



ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")


COMPANY NAME:

Galasys plc (the "Company" or the "Group")

 

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Queensway House, Hilgrove Street, St Helier, Jersey JE1 1ES

 

COUNTRY OF INCORPORATION:

Jersey

 

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.galasystec.com

 

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

 

Galasys plc is an Amusement Park solutions and services provider that supplies ticketing management systems to Amusement Parks in China and Malaysia and has been operating since 2005. Through its proprietary systems, the Group provides Amusement Park operators with the ability to manage and analyse tickets, visitors, merchandise sales and other Amusement Park operations at their Amusement Park sites.

 

The Directors believe that the Group's market position in China has been the culmination of a proven and reliable technology platform and long lasting relationships with Amusement Park operators, for example, Chimelong and OCT Group, which are two of the largest Amusement Park operators in China by numbers of tickets sold annually. In addition, the Directors believe that the Group is well placed to benefit from continued urbanisation and growth in China, in particular through the unique drivers of the Chinese Amusement Park industry, whereby real estate developers use Amusement Parks as a means of generating demand from prospective real estate buyers.

 

The Group intends to strengthen its position in the Asian region by increasing its product offering to current Amusement Park operators, gaining new Amusement Park operators as customers and by entering into new markets. Progress has already been made in Japan following the execution of a reseller agreement in March 2014 with Hitachi Sunway, a joint venture between Hitachi (one of the leading technology companies in Japan), and Sunway group (a conglomerate in Malaysia).

 

The Directors believe that Admission is an important step in the Group's development, as it will enable additional funds to be raised which should facilitate the Group's growth and expansion.

 

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

TBC

 

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

TBC

 

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

TBC

 

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

Not applicable

 

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Mr Teh Kim Seng, Non-Executive Chairman

Mr Seah Kok Wah, Executive Director, CEO

Mr Hee Chee Keong, Executive Director, CFO

Mr Chuah Teong Ming, Executive Director

Mr Chin Chee Seong, Non-Executive Director

Mr Garry Peagam, Independent Non-Executive Director

 

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Significant Shareholders before Admission:

 

Name

Number of shares

% of existing Common Share capital prior to Admission

Well Oriental Investments Limited*

26,783,984

50.8

Netrove Ventures Corporation**

11,417,566

21.7

Soo Choon Meng

7,842,989

14.9

Higalaxy Holdings Sdn Bhd

2,732,028

5.2

WGLS Foundation

2,151,201

4.1

 

* Well Oriental Investments Limited shareholders are Seah Kok Wah (the Company's CEO and co-founder), Hee Chee Keong (the Company's CFO), Low Kok Thai (the Group's CTO) and Chuah Teong Ming (MD of China and co-founder).

** Netrove Ventures Corporation's sole shareholder is Teh Kim Seng (the Company's, Non-Executive Chairman)

 

Significant Shareholders following Admission: TBC

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i)         31 December

(ii)        31 December 2013

(iii)       30 September 2014 (interim report for the six months ending 30 June 2014);

30 June 2015 (annual report for the 12 months ending 31 December 2014); and

30 September 2015 (interim report for the six months ending 30 June 2015).

 

EXPECTED ADMISSION DATE:

15 April 2014

 

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Arden Partners plc

125 Old Broad Street

London

EC2N 1AR

 

NAME AND ADDRESS OF BROKER:

Arden Partners plc

125 Old Broad Street

London

EC2N 1AR

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Copies of the Admission Document, which will contain full details about the applicant and the admission of its securities, will be available on the Group's website (www.galasystec.com) and at the offices of Arden.

DATE OF NOTIFICATION:

1 April 2014

 

NEW/ UPDATE:

New

 

 


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