GLS.L Regulatory News (GLS)

11 May 2016

Galasys plc

("Galasys" or the "Company")

Standstill Agreement among significant shareholders

The Company announces that Well Oriental Investments Limited ('WOI'), which holds 26,783,984 Galasys shares representing 34.99% of its issued share capital notified Galasys yesterday that it has entered into a standstill agreement with the pre-IPO shareholders whose names and shareholdings are shown below:

WOI's shareholders are the founders of Galasys: Seah Kok Wah, Chuah Teong Ming, Low Kok Thai and Hee Chin Keong.

The effect of the standstill agreement is to commit all signatories to maintain their present shareholdings, which amount in aggregate to 50.58% of Galasys' issued share capital, such that none will buy or sell Galasys shares during the next nine months ("Standstill Period"), save that if an offer was to be made for the company during the Standstill Period, the signatories are committed to act in concert in accepting or rejecting it.

The agreement also requires any of the signatories who wish to sell Galasys shares following the expiry of the Standstill Period to first offer such shares to the other signatories on the same terms.

WOI has informed the Company that it has entered into the standstill agreement in the context of seeking a settlement of the litigation.

For further information, please contact: