Revised outcome of Board Meeting dated April 18, 2025
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Galactico Corporate Services Ltd has filed a revised outcome of its Board Meeting held on April 18, 2025, held through video conferencing (OAVM), to correct the omission of the meeting mode in its earlier filing. The Board approved the cancellation of a proposed Scheme of Arrangement (demerger) of the company into its subsidiary, Galactico Visionary Consulting Limited, which had been originally approved on March 6, 2025. After reviewing strategic, regulatory, and operational factors, the Board decided not to proceed with the demerger and the scheme stands withdrawn with immediate effect. The company stated it will make the necessary filings with regulatory authorities to formalise the withdrawal.
Shareholders should note that the previously approved demerger plan has now been reversed, removing the corporate restructuring that was expected to take place. This change in direction may influence short-term investor sentiment, as earlier expectations around the demerger with Galactico Visionary Consulting Limited are no longer valid.