14th Dec 2015 10:30
LONDON (Alliance News) - Galasys PLC said Monday that an extraordinary general meeting has been requisitioned by Chief Executive Officer Seah Kok Wah and Executive Director Chuah Teong Ming, proposing the removal of Non-Executive Chairman Teh Kim Sing, amongst others.
Galasys provides services and products to the amusement industry in Asia such as electronic ticketing and admission services.
The proposals are for the removal of Teh Kim Sing, along with Non-Executive Director Garry Peagam, and to appoint Seah Kok Wah as executive chairman instead.
Additionally, they seek to appoint Cheong Eng Tick, Richard Bennett and David Harris as non-executive directors. They also seek to confirm Chin Chee Seong remains as a director of the company and his purported removal at a board meeting in October is null and void, and for him to be re-appointed if the removal was valid, and confirm that Hee Chee Keong remains a director, and that his "purported resignation signed by Teh Kim Seng" October 27 is null and void, and for him to be re-appointed if the removal was valid.
The company said that it will provide a further update once it has resolved "definitively" whether the notice of the general meeting is valid.
Shares in Galasys were untraded Monday morning. They last closed at 18.50 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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