Information  X 
Enter a valid email address

Sealand Capital (SCGL)

  Print      Mail a friend

Friday 11 August, 2017

Sealand Capital

Placing

RNS Number : 8169N
Sealand Capital Galaxy Limited
11 August 2017
 

Not for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and the Cayman Islands where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction.  This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.

 

 

11 August 2017

 

SEALAND CAPITAL GALAXY LIMITED (LSE: SCGL)

("Sealand", "SCGL" or "the Company")

 

 

Placing

 

Sealand today, announces the placing of 20,550,000 ordinary shares of £0.0001 each in the capital of the Company ("Placing Shares") to new investors at £0.06 per Placing Share, raising in aggregate, £1,233,000 (the "Placing").

 

The Placing is conditional on admission of the Placing Shares to the standard segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission").

 

The Placing Shares will represent 4.16 per cent. of the enlarged issued share capital of the Company. The Placing Shares will be fully paid and will rank pari passu in all respects with the existing ordinary shares of £0.0001 each in the Company ("Ordinary Shares") including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

 

 

Admission to trading and listing

 

The Company has applied for Admission. It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00 a.m. on 17 August 2017. The total number of Ordinary Shares in issue following completion of the Placing, and the total number of voting rights, will be 494,050,000.

 

The above figure of 494,050,000 Ordinary Shares may be used by shareholders in the Company 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, Sealand under the FCA's Disclosure and Transparency Rules.

 

Mr Nelson Law, Chairman and CFO of Sealand, commented, "This new Placing has been filled by three investment companies who are excited by the strategy we have presented to them regarding the growth of the business. Our aim over the next few years is to become a leading internet-based mobile phone content business in the APAC region and beyond. The proposed acquisition of Rightyoo which we announced on 26 July is the first step in our vision to create a comprehensive and broad-reaching fintech group."

 

-ends-

 

Enquiries:

 

Sealand Capital Galaxy

Nicholas Lyth, Non-Executive Director                                                                  07769 906 686

 

Leander (Financial PR)

Christian Taylor-Wilkinson                                                                                    07795 168 157

 

 

Notes to Editors:

·     Sealand Capital Galaxy Limited (LSE: SCGL) is engaged in the investment and acquisition of IT and social media businesses in the APAC region with high growth potential.  

·     Further information on Sealand is available on its website http://www.scg-ltd.com/

 

 

 

Disclaimer

This announcement contains certain forward-looking statements.  These statements are made by the Company's directors in good faith based on the information available to them up to the time of their approval of this announcement but such statements should be treated with caution due to inherent uncertainties, including both economic and business factors, underlying such forward-looking information.  This announcement has been prepared solely to provide additional information to shareholders to assess the Group's strategies and the potential for those strategies to succeed.  This announcement should not be relied on by any other party or for any other purpose.


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCOKDDBNBKDOFD

a d v e r t i s e m e n t