LONDON – Sealand Capital Galaxy Limited (LSE: SCGL), a company specializing in IT, social media and technology opportunities, successfully passed all resolutions at its Annual General Meeting (AGM) held on Monday. The company also announced the completion of a partnership and investment agreement with EVOO AI PLC, a proprietary data platform with AI learning models specific to the luxury goods sector.
At the AGM, the shareholders unanimously approved the directors’ reports and financial statements for the years ended December 31, 2019 to 2022. In addition, PKF Littlejohn LLP was reappointed as auditors, and directors Elena Law and Geoffrey Griggs were re-elected.
Following the AGM, Sealand Capital confirmed the subscription of 111,000,000 ordinary shares. London Stock Exchange (LON: ), is expected to be effective around January 14, 2025. The move is part of the company’s strategy to embrace disruptive technologies and strengthen its position in the market.
The partnership with EVOO AI followed a due diligence process, with CEO of Sealand Capital, Elena Law, expressing confidence in the technology and business potential of EVOO’s Olive platform, a luxury e-commerce marketplace. Neil Stevenson-Moore, CEO of EVOO AI, highlighted the strategic alignment with Sealand, particularly in leveraging Sealand’s APAC relationships for growth opportunities.
The terms of the investment include a £300,000 loan facility to EVOO, with interest accruing at 12% over an 18-month period. In addition, Sealand will receive 1,000,000 share purchase warrants, with a conversion option into ordinary shares at a price possibly below the IPO price.
The companies have planned a webinar to inform shareholders about the partnership and investment details, with more announcements expected in the new year.
This announcement is based on a press release statement and contains inside information as defined under the Market Abuse Rule.
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