Notice of Extraordinary General Meeting

14 December 2015

Galasys plc

("Galasys" or the "Company")

Notice of Extraordinary General Meeting 

The Company is aware that, on 11 December 2015, a Circular was sent to Shareholders comprising a notice of Extraordinary General Meeting to be held at PIKOM Building, Meeting Room, E1, Empire Damansara, No.2, Jalan PJU8/8A, Damansara Perdana, 47820 Petaling Jaya, Selangor, Malaysia on 29 December 2015 at 3.00 p.m. (Malaysia time) (the "General Meeting").

The General Meeting has been called by Seah Kok Wah and Chuah Teong Ming, both directors of the Company, pursuant to Article 16.2 of the Company's Articles of Association. Kim Seng Teh, Vincent Lai and Garry Peagam are disputing the legal basis under which the General Meeting was called. A further update will be provided once the Company has resolved definitively whether the Notice of the General Meeting is valid.

The independent legal review announced on 4 November 2015 is not proceeding at this time.

The following resolutions are proposed for the General Meeting:

1. To elect a Chairman, from the members or their proxies in attendance, for the Extraordinary General Meeting.

2. To appoint Seah Kok Wah as the Executive Chairman of the company.

3. To remove Teh Kim Seng as a director of the company with effect from the declaration of any vote by the Chairman of the EGM that the motion to remove Teh Kim Seng has been carried.

4. To remove Garry Peagam as a director of the company with effect from the declaration of any vote by the Chairman of the EGM that the motion to remove Garry Peagam has been carried.

5. To confirm that Chin Chee Seong remains as a director of the Company and that his purported removal during the board meeting on 21 October 2015 is null and void, and (without prejudice to this) to resolve that he be re-appointed in the event that his purported removal was valid.

6. To confirm that Hee Chee Keong remains a director of the Company and that his purported resignation signed by Teh Kim Seng on 27 October 2015 is null and void, and (without prejudice to this) to resolve that he be re-appointed in the event that his purported removal was valid.

7. To appoint Cheong Eng Tick as an independent non-executive director of the Company.

8. To appoint Richard Bennett as an independent non-executive director of the Company.

9. To appoint David Harris as an independent non-executive director of the Company.

The Notice of General Meeting will shortly be available from the Company's website, www.galasystec.com , in accordance with AIM Rule 20.

For further information, please contact: