Sealand Capital Galaxy Limited Placing (8169N)
11 August 2017 - 11:28PM
UK Regulatory
TIDMSCGL
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 GBP0.0001 each in the capital of the Company ("Placing
Shares") to new investors at GBP0.06 per Placing Share, raising in
aggregate, GBP1,233,000 (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 GBP0.0001 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
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August 11, 2017 09:28 ET (13:28 GMT)
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