Following the announcement on 13 April of a placing of new Ordinary Shares by Subscription Agreement, Focus Information Technology Co., Limited, a wholly owned subsidiary of Beijing Shiji Information Technology Co. Limited (together the “Shiji Group”), has acquired a further 5,325,685 ordinary shares at 30 pence per Ordinary Share.
The vendors of the shares include Netrove Ventures Corporation (“NVC”), an Asian tech focused venture capital fund, who disposed of 4,093,657 shares. Following this transaction, NVC’s holding in the Ordinary Shares of Galasys is 7,323,909 shares, representing 9.57% of the total number of Ordinary Shares is issue. The sale of shares by NVC to the Shiji Group is to enable Shiji Group to own 20% of Galasys as is desired by the Shiji Group. NVC remains a significant and supportive shareholder of Galasys.
Following this transaction the Shiji Group will hold 15,311,340 Ordinary shares of Galasys, representing c. 20% of the total number of Ordinary Shares in issue.
(Source: 13April 2015, http://otp.investis.com/clients/uk/galasys/rns/regulatory-story.aspx?newsid=504608&cid=656 )
