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Galasys – yet another corporate departure: what of corporate governance?

By Nigel Somerville, the Deputy Sheriff of AIM | Tuesday 16 August 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.


Oh dear, just when things were going so well for AIM-listed Galasys (GLS)! Here we have a boardroom at war with itself, the provider of company secretarial services and registered office resigning (date now extended to this Friday) and joke accounts. Now, having seen its token Westerner walk from the board as independent NED last December, Mr Vincent Lai Tuck Yuen was announced to have stepped down as NED on Friday last week, effective immediately – apparently “due to personal reasons”.


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