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Galasys – courting disaster or just a farce?

By Nigel Somerville, the Deputy Sheriff of AIM | Wednesday 20 April 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.


We have been covering AIM-listed, but not (quite) AIM-China Galasys (GLS) through the who-is –in-charge battle since last October. There have been court proceedings in the UK, Jersey and Malaysia and here we are in April 2016 with still no resolution. Yesterday morning the company issued an update: Jersey proceedings were suspended as a kiss-and-make-up negotiation was underway, and in Malaysia a ruling went for the company and its directors (one of them former) but seems to have been appealed.


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