GLS.L Regulatory News (GLS)

17 November2014

Galasys PLC

("Galasys" or "The Group")

Galasys secures GingKo Lake in China and other contract wins

Galasys PLC, a leading provider of ticketing systems and solutions to the fast growing theme park industry in Asia, is pleased to announce three new contract wins with a total value of approximately £340,000, at current exchange rates.

These contracts have been awarded by GingKo Lake in NanJing (China), the largest ecological playground in NanJing, Langkawi Museum Sdn Bhd in Langkawi (Malaysia), the world's newest 3D Interactive museum and PLAYTIME Dream Paradise in HangZhou (China), the first of Korea's popular indoor playground in China.

Gingko Lake Ecological Playground in NanJing, China ("Gingko Lake")

Gingko Lake is a newly constructed ecological playground located in NanJing in the province of Jiangsu The park has a capacity to serve 500,000 visitors per annum. Together with the existing golf course, the entire space occupies 13km2 of landscape. The playground has some of the latest facilities imported from Europe and Japan in distinct parks such as a 360° gyroscopic ride and Crystal Adventure Cave. Leveraging on its unique landscape and scenic features, Gingko Lake plans to introduce a greater variety of theme parks in the future, including a zoo, underwater world and scenic park.

Terms of the Contract with Gingko Lake

Galasys will provide its core ticketing system for a period of 1 year. The total contract value is RMB2,169,220 (c. £222,300), 20% payable upon signing of the contract, with the balance after implementation of the ticketing system and upon the commencement of ticket sales. Galasys will provide complementary maintenance services for 1 year.

Other contract wins

PLAYTIME Dream Paradise in HangZhou, China ("PLAYTIME Dream Paradise"), is a Korean playground brand that has taken the Asia market by storm, opening close to 500 indoor children's experience centres in Korea. PLAYTIME debuted in 1993 and in 20 years, has become Korea's most popular indoor playground chain with a market share of more than 90%. The first location of this brand in China was developed between China-based Zhongnan Animation and Korea's PLAYTIME Co. Covering an area close to 2,500 square meters, PLAYTIME Dream Paradise is an indoor playground located at ZhongNan Mall, in Hangzhou which first came into service at the end of April 2014.

Galasys will provide its core ticketing system for a period of 1 year. Total contract value is RMB650,000 (c. £65,853), 40% payable upon signing of the contract, with the balance after implementation of system and upon the commencement of ticket sales. Galasys will also provide complementary maintenance services for 1 year.

Believe Langkawi 3D museum in Langkawi, Malaysia ("Believe Langkawi") houses the world's newest interactive 3D art collection. Located in the island of Langkawi, north of Malaysia, the museum brings a new and different experience in 3D art. Galasys will provide its core ticketing system and 2D barcode ticket module from 1 December 2014. Total contract value is RM180,000 (c. £34,016) which includes the minimum revenue derived from ticket sales under  the TiTo model under which Galasys will take a revenue share in ticket sales instead of its normal project-based fees for systems and services. Galasys will provide complementary maintenance services for up to 3 years.

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

"We are very pleased to have secured the contract with Langkawi Museum as this represents Galasys' first TiTo project in the SEA region and further underlines our commitment to the TiTo model being our significant engagement model in years to come. The contract also represents Galasys' intention to expand its ticketing solution business beyond the traditional theme park market.

The contracts with PLAYTIME Dream Paradise and Gingko Lake represent the Group's continuing inroad into the mid-tier theme parks in China.

These three contract wins give the Board confidence in Galasys' plans for growth and in our ability to make further market-share gains in the amusement park ticketing space."

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 90 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 first ticketing management system contract was awarded in 2005 by Chime Long Group. The Group currently employs 92 members of staff and exclusively retains an additional 47 research and development staff provided by third party developers.