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AIM SHOCKER: Galasys - AIM’s day of sickening shame as Chairman points the finger

By Nigel Somerville, the Deputy Sheriff of AIM | Thursday 8 September 2016


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


In a quite astonishing statement released yesterday, the non-exec Chairman of AIM death-row inhabitant Galasys (GLS), Mr Kim Seng Teh, has given his account of an unbelievable systemic failure on the AIM Casino to control the behaviour of the board of a member of the world’s most successful growth market. WH Ireland, as the Nomad responsible for this train-wreck until a few days ago, has a number of serious questions to answer, as does AIM Regulation – which, I hope, will be asking a good few questions of its own. I wouldn’t like to second-guess who is the villain in the boardroom and who is the innocent party, but I am sure of one thing: heads must roll in the oversight department.


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