GLS.L Regulatory News (GLS)

13 April 2015

Galasys PLC

("Galasys" or the "Group")

Transaction in Shares

Following the announcement on 13 April of a placing of new Ordinary Shares by Subscription Agreement, Focus Information Technology Co., Limited, a wholly owned subsidiary of Beijing Shiji Information Technology Co. Limited (together the "Shiji Group"), has acquired a further 5,325,685 ordinary shares at 30 pence per Ordinary Share.

The vendors of the shares include Netrove Ventures Corporation ("NVC"), an Asian tech focused venture capital fund, who disposed of 4,093,657 shares. Following this transaction, NVC's holding in the Ordinary Shares of Galasys is 7,323,909 shares, representing 9.57% of the total number of Ordinary Shares is issue. The sale of shares by NVC to the Shiji Group is to enable Shiji Group to own 20% of Galasys as is desired by the Shiji Group. NVC remains a significant and supportive shareholder of Galasys.

Following this transaction the Shiji Group will hold 15,311,340 Ordinary shares of Galasys, representing c. 20% of the total number of Ordinary Shares in issue.

For further information, please contact: 

About Galasys

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 100 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 and retains more than 140 people across Asia.

About Beijing Shiji Information Technology Co. Limited

Shiji Information was founded in 1998 and is principally engaged in the development and sale of systems and solutions for the hospitality industry. Its major products include property management systems and software such as the OPERA line of products and SINFONIA, Point-Of-Sale systems including the Micros series of products as well as other information management systems for the Food & Beverage industry and payment systems and services. It is headquartered in Beijing, China with branch offices in Shanghai, Guangzhou, Beihai, Dalian and Shenzhen in China.

Focus Information Technology Co., Limited is a wholly owned subsidiary of Shiji Information and offers hotel and restaurant information management systems and solutions. It was founded in 2007 and is based in Hong Kong with offices in Hong Kong, Malaysia and Singapore.

Shiji Information is listed on the Shenzhen Stock Exchange in China since 2007 and employs over 1,700 staff across all its offices in Asia and has over 6,000 hotel customers, over 100,000 restaurant customers and over 200,000 retail shops installed with its systems and solutions. Alibaba and Shiji Information announced that the Alibaba Group (NYSE:BABA) has agreed to acquire a 15% stake in Shiji Information for RMB2.81 billion (c. GBP 305 million) in September 2014, via its subsidiary Taobao (China) Software Co., Ltd. ("Taobao"). Completion of the investment into Shiji Information by Taobao is subject to the approval of the China Securities Regulatory Commission.