11th Jan 2016 08:42
LONDON (Alliance News) - Galasys PLC on Monday said it secured 25 new contracts in the quarter to the end of December, with a total value of GBP1.1 million.
Galasys, which provides services to the leisure and entertainment industry in Asia, including ticketing and admission services, said the contracts included seven new customers and 18 existing customers ordering new services.
The group highlighted five of the most significant wins in the quarter, including a deal with Animation Theme Park in Malaysia and four deals in China covering East Shenzhen OCT in China, the Shanxi Dream Waterpark in Shanxi Province, Zunyi Park in the Zunyi International Trade City and Midea Egret Lake Forest Resort.
"I am pleased to report that Galasys continues to build on its position as the leading provider of integrated and modular amusement park solutions and services in China and South East Asia. This latest batch of new contracts adds to the group's already impressive portfolio, and I reiterate my confidence in the continuing success of Galasys," said Chief Executive Sean Seah.
The news comes as Galasys contends with internal conflicts on its board. In December, the English High Court ruled to postpone a meeting the group was due to hold at the end of 2015 at which shareholders were to vote on proposals to remove Non-Executive Chairman Teh Kim Seng.
The requisition to remove the chairman was made by CEO Seah and Executive Director Chuah Teong. They are also seeking to remove Non-Executive Director Garry Peagam and have Seah appointed as the company's executive chairman.
Galasys shares were untraded on Monday morning, having last traded at 16.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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