Sealand Capital Galaxy Limited MoU with MySQUAR Limited (1163T)
10 October 2017 - 5:00PM
UK Regulatory
TIDMSCGL
RNS Number : 1163T
Sealand Capital Galaxy Limited
10 October 2017
10 October 2017
Sealand Capital Galaxy Limited ("Sealand" or the "Company")
MoU with MySQUAR Limited
The Company is pleased to announce that it has signed a
non-legally binding Memorandum of Understanding ("MoU") with
MySQUAR Limited ("MySQUAR"), a company listed on AIM (stock ticker:
MYSQ), to enter into a partnership for the mobile games of MySQUAR
to be distributed under Sealand's (through its subsidiaries)
licence agreement on the Huawei inTouch platform and for Sealand's
mobile games to be distributed in Myanmar through the MySQUAR
platform. Huawei is the third largest smartphone provider in the
Myanmar market which is the fastest growing in Asia. Details of the
partnership shall be finalised within the next 60 days.
MySQUAR, the Myanmar-language social media, entertainment and
payments platform whose principal activity is to design, develop
and commercialise Myanmar-focused internet-based mobile
applications.
Sealand makes investments and acquisitions in the information
technology and social media sectors in the APAC (Asia-Pacific)
region, with a particular focus on mobile gaming and mobile payment
companies. Sealand recently invested a majority stake in a mobile
game distribution company, Guangzhou Ruiyou Information
Technologies Co., Ltd. ("Rightyoo"). Rightyoo has agreements in
place with Huawei with a view to distribute Rightyoo's contents
globally through Huawei InTouch platform, which cover 30 countries
in Latin America, Africa, Southeast Asia and the Middle East.
Sealand and MySUAR are in discussions to expand Rightyoo business
geographical coverage through distributing Rightyoo mobile gaming
contents through MySQUAR gaming platform in Myanmar
Eric Schaer, CEO of MySQUAR, said: "One of our key targets this
year is to build new partnerships and achieve higher levels of
monetisation. MySQUAR is excited to enter into this partnership and
have the opportunity to expand its mobile game distribution.
MySQUAR is constantly looking for the best mobile games to release
in Myanmar. This strategic partnership with Sealand will provide
access to some of the best games in the market."
"Sealand actively monitors opportunities in Southeast Asia and
we are eager to enter the fastest growing market in the region,
Myanmar, for mobile gaming and payments," said Nelson Law, Chairman
of Sealand Capital Galaxy Limited. "We hope to leverage MySQUAR's
first place position in the Myanmar mobile gaming market with
millions of downloads and its partnership with MyPay Limited, to
offer Rightyoo's gaming content through MySQUAR in Myanmar."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information:
Sealand Capital Galaxy Limited
Nicholas Lyth (Non-Executive Director) Tel: +44 (0) 776
9906686
MySQUAR Limited
Eric Schaer (Chief Executive) Tel: +65 91265893
Pham Dang Hung (CFO)
SP Angel Corporate Finance LLP
Nominated Adviser Tel: +44 (0) 203 470 0470
Stuart Gledhill/Soltan Tagiev
Beaufort Securities Limited
Broker
Jon Belliss/Elliot Hance Tel: +44 (0) 207 382 8300
Public Relations
Damien McCrystal Tel: +44 (0) 7816 770 758
damien@mccrystal.info
This information is provided by RNS
The company news service from the London Stock Exchange
END
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