GLS.L Regulatory News (GLS)

22 May 2014

Galasys PLC

("Galasys" or "The Group")

Galasys secures Wuhan Wanda Movie Park ticketing and point-of-sales system

Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce its first contract with Dalian Wanda Group. Under the terms of the contract, Galasys will supply ticketing and point-of-sale systems in connection with Phase 1 of the Wuhan Wanda Movie Park (the "Movie Park"), which is scheduled to open in December 2014 (the "Contract"). The Contract represents the first significant new customer win since the Group's successful IPO, and to date, Galasys now have 68 installed sites compared to 60 at the date of the Company's IPO.

The Movie Park

Dalian Wanda Group ("Dalian Wanda") has invested 3.8 billion Yuan (c. £362 million) to build the world's only film and movie technology park in Wuhan. Spreading over 100,000 square meters, the Movie Park will be the first indoor movie theme park in the world. Containing six attractions, the park is built upon the most advanced movie technology by top studios and Hollywood special visual effects companies.

Terms of the Contract

Galasys will design and customise the ticketing and point-of-sales systems for Phase 1 of Wanda Wuhan Movie Park and thereafter provide maintenance and support services. The total value of the project including software services and hardware is 2.9 million Yuan (c. £274,000), which includes 2 years for software support and 3 years for hardware support. Pursuant to the terms of the Contract, Galasys should receive 95% of its fees once the Movie Park has been operational for three months, with the balance paid over the life of the contract.

Commenting on the announcement, Mr. Seah, Chief Executive of Galasys, said:

"We are delighted to announce that we have secured the contract to supply our ticketing and point-of-sales system to Wanda Wuhan Movie Park. Galasys won this project against competition from local and global ticketing solution providers, which is a testament to our technical merit, existing customer references and the strong local implementation and support team we provide. We have committed to place dedicated engineers on-site with Dalian Wanda and we hope this is the first of many contracts with Dalian Wanda which has plans to build several state-of-the-art theme parks in major cities across China. This is the first new major customer we have secured since our successful listing on AIM and we look forward to being able to announce more key wins in the future."

Enquiries:

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 68 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'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 Chime Long and the OCT Group, which are two of the largest amusement park operators in China by number of park visitors and tickets sold annually. In addition, the Group is well placed to benefit from the continued urbanisation and growth in Asia.

The Group's first ticketing management system contract was awarded in 2005 by Chime Long Group. The Group currently employs 58 members of staff and exclusively retains 40 research and development staff provided by third party developers.

About Dalian Wanda Group

www.wanda-group.com

Dalian Wanda Group was founded in 1988 by Mr Wang Jianlin, the richest man in China. It operates in four major industries - commercial property, luxury hotels, culture & tourism, and department stores. In 2013, the company's assets totalled 380 billion Yuan (c. £36.2 billion), its annual income reached 186.6 billion Yuan (c. £17.8 billion) and net profits exceeded 12.5 billion Yuan (c. £1.2 billion).

Commercial Properties

Wanda Commercial Properties is a forerunner in the field of commercial real estate. Currently, there are 85 Wanda Plazas across China, with a total lettable area of c. 17 million square meters, ranking second in the world. Wanda Commercial Properties has established the first and only Business Planning Institute in China, as well as its own commercial property construction team and business management company. The above resources have helped Wanda Commercial Properties to form a complete industry chain and maintain the leading position in an immensely competitive industry.

Hotel Development and Management

Wanda Hotels & Resorts has opened 52 five-star and super five-star hotels. The company owns three hotel brands - the five-star Wanda Realm, the luxury five-star Wanda Vista and the super luxury five-star Wanda Reign.

Cultural Industry

The Wanda Culture Industry Group is China's largest cultural enterprise, with registered capital totalling 5 billion Yuan (c. £476 million), 44 billion Yuan (c. £4.2 billion) in total assets and annual revenue of 25.5 billion Yuan (c. £2.4 billion) in 2013. The group operates in 10 arenas: cinemas, film production, film industry parks, performing arts, film technology entertainment, theme parks, franchise entertainment, print media, and art investment and travel. It now operates 1,247 film screens and 81 KTVs. The Wanda Group has announced its intention to spend 30 billion Yuan (c. £2.9 billion) to build a theme park to rival the Shanghai Disney Resort, and the Movie Park is the first of numerous new parks planned for China.

Department Stores

The Wanda Group now operates 75 department stores in major cities such as Beijing, Shanghai, Chengdu and Wuhan.