THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR IN OR INTO ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended). 596/2014.
For immediate release: 31 March 2021
Sealand Capital Galaxy Limited (LSE: SCGL)
("Sealand" or "the Company")
Subscription, Director Dealing, Corporate Update, and Directorate Change
Sealand Capital Galaxy Limited (LSE: SCGL) the digital marketing and advertising company is pleased to announce that it has raised £90,000 via a subscription for 6,206,896 new ordinary shares at price of 1.45 pence per share by Executive Chairman Nelson Law ("the Subscription"). Application is being made for the new shares to be admitted to trading, which is expected to be on or around 7 April 2021.
Following the Subscription Mr Law will hold 170,706,896 ordinary shares representing 33.46% of the issued share capital.
The Company also announces that it is in discussions with a European business-to-business marketing technology company initially with a view to obtaining an exclusive licence to use their technology in the Chinese market. The monies raised from the Subscription will be used to explore the commercial opportunities afforded by this opportunity, as well as providing further working capital for the Company.
Total Voting Rights
The new ordinary shares will rank pari passu with the existing ordinary shares of the Company. Following the issue of the new ordinary shares, the Company's issued and fully paid share capital will consist of 510,256,896 ordinary shares, all of which carry one voting right per share. This figure of 510,256,896 ordinary shares may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the FCA's Disclosure Guidance and Transparency Rules.
Directorate Change
The Company also announces that Mr Mark Bernard Battles will today, 31st March 2021, be resigning from the Board. The Company wishes to thank Mr Battles for his contribution since appointment. A replacement non-executive director will be appointed in due course.
PDMR
The information contained in this notification is disclosed in accordance with the requirements of Article 19 of the Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | Nelson Law | |
| 2 | Reason for the notification | ||
| a) | Position/status | Person discharging managerial responsibilities (Director, Chairman) | |
| b) | Initial notification/Amendment | Initial notification | |
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||
| a) | Name | Sealand Capital Galaxy Limited | |
| b) | LEI | 2138009EB25MJIULQO19 | |
| 4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||
| a) | Description of the financial instrument, type of instrument Identification code
| Ordinary shares of £0.0001 ISIN: KYG7948E1026 | |
| b) | Nature of transaction | Subscription for new ordinary shares | |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1.45 pence | 6,206,896 |
| d) | Aggregated information - Aggregated volume - Price
| 6,206,896 shares 1.45 pence
| |
| e) | Date of the transaction | 30 March 2021 | |
| f) | Place of the transaction | Outside of a trading venue | |
-Ends-
| Enquiries:
| |
| Sealand Capital Galaxy Limited | |
| Law Chung Lam Nelson, Executive Chairman | + 44 (0) 753 795 9788 |
| Novum Securities Limited | |
| David Coffman | + 44 (0) 20 7399 9400 |
Notes to Editors:
The Company's Shares are traded on the Official List of the London Stock Exchange's main market for listed securities under the ticker SCGL.
Further information on Sealand is available on its website http://www.scg-ltd.com/
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