REG - Sealand Capital - Formation of ‘SEA-VOO AI ASIA’

Sealand Capital GalaxyAnnouncement

27/01/2025 07:00

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RNS Number : 7647U  Sealand Capital Galaxy Limited  27 January 2025

THEINFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE
REGULATION(EU) NO. 596/2014, AS AMENDED WHICH, BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, FORMS PART OF UK LAW. ON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

27 January 2025

 

 

Sealand Capital Galaxy Limited

 

("Sealand" or the "Company")

 

Formation of 'SEA-VOO AI ASIA'

 

Sealand Capital Galaxy Limited [LSE: SCGL] ("Sealand" or the "Company"), an
IT, Social Media & Technology company focused on consolidating compelling
opportunities in the global marketplace, is pleased to announce that the
Company has formalised terms with EVOO AI plc ("EVOO") to create a proprietary
platform, named "SEA-VOO AI ASIA" or "SEA-VOO". This agreement will give
Sealand's wholly-owned operating subsidiary SCG Group Limited (a company
operating distribution agreements with international brands seeking access to
the APAC market) access and exclusive distribution rights to EVOO's AI
technology platform.

 

SEA-VOO AI ASIA

 

Over the last 5 years, SCG Holdings Limited has focused on partnering with
growing consumer brands that have been seeking access to the APAC region. SCG
Holdings Limited was created to provide brands with access to scalable markets
in the APAC region through providing distribution and payment gateway
solutions, enabling the APAC region to access global products with
transactional and settlement ease.

 

International distribution agreements within the APAC region have proven to be
drivers in a strong marketplace that remains highly competitive. The formation
of SEA-VOO is to ensure that Sealand continues to compete through innovation
in the marketplace. Through creating and developing this and other
technologies with the objective of successfully launching a proprietary
platform will provide the APAC region with curated and customised access to
products through a centralised platform and community.

 

PARTNERSHIP

 

In November last year, the Company announced its intention to enter a
strategic partnership agreement with EVOO AI plc [see news release here
(https://polaris.brighterir.com/public/sealand_capital_galaxy/news/rns/story/xl4e0gr)
], Sealand elected to proceed with this partnership [see news release here
(https://polaris.brighterir.com/public/sealand_capital_galaxy/news/rns/story/xe3jj2r)
] earlier this month.

 

EVOO is a proprietary data platform with specialized AI learning models
tailored to drive meaningful commercial and consumer insights in the luxury
goods sector, leading to increased revenue for its customers. Integrating
proprietary, open-source, and partner AI models, the platform delivers
in-depth, actionable intelligence on market trends and consumer behaviours.
These insights are primarily derived from applications targeted at consumers,
retailers, and brands. Its flagship application, Olive, is a luxury e-commerce
marketplace that features influencer-curated boutiques, offering consumers a
personalized shopping experience.

 

EVOO is at a very exciting juncture in its present corporate development,
supported by a management team with a track-record of success in the industry
that they are operating in and pursuing.

 

SEA-VOO allows Sealand to leverage the existing developments and
infrastructure that EVOO have built whilst taking control over the
technology's development and roll-out in the APAC region. This involves
securing IP and exclusivity, as well as the majority of any future earnings
that the platform may derive in the APAC territory. This strategy is
consistent with Sealand's commitment to adapting to technological advances,
such as are being seen in the AI Industry, through the creation of
complimentary strategic partnerships and transactions that can complement,
grow and scale the Company's existing operations in the APAC region and allow
us to raise the Company's competitive profile in the market place.

 

Sealand's Chief Executive Officer, Dr. Thomas Sawyer commented,

 

"The formation and creation of SEA-VOO is representative of how we want to
innovate our business through forming strategic partnerships that drive value
across our group companies. Our aim is to create opportunities for exposure to
exciting new technologies and create growth-enabling synergies in further
business verticals across our existing operations. EVOO's ambitions of
delivering a customised experience to the consumer through the combination of
specific data models is an ambitious and exciting venture that we are happy to
be supporting early, and which, through our development of their unique
technology, has a clear route to market alongside our Chinese e-commerce
business."

 

EVOO's Chief Strategy Officer, Michael Callas commented,

 

"EVOO AI Plc is thrilled to deepen our partnership with Sealand through this
exciting new venture, SEA-VOO. Collaborating with Dr. Sawyer and his
innovative team, we are confident that SEA-VOO will serve as a powerful
platform to highlight the creativity and unique style of the APAC region on
both local and global stages. Together, we are redefining how luxury brands
engage with consumers, blending technology and regional expertise to shape the
future of luxury e-commerce."

 

See Michael's interview on Stockbox here
(https://www.youtube.com/watch?v=oe3mEAp22t0) :
https://www.youtube.com/watch?v=oe3mEAp22t0

SEA-VOO PARTNERSHIP TERMS

 

-     Sealand has secured exclusive rights to EVOO's Olive* platform for
the APAC region, including markets such as China, Japan, South Korea, Taiwan,
Thailand, Singapore, Vietnam, Malaysia, Hong Kong (China), Myanmar, and Macau
(China), for an initial period of five years under the name "SEA-VOO".

-     Under the partnership terms, EVOO retains all rights, including
Intellectual Property Rights, to the Platform, however all Intellectual
Property Rights created exclusively for Sealand, including the Custom
Application tailored for the APAC market, will be owned by Sealand.

-     SCG shall be lead financier and co-developer in the
commercialisation and build-out of SEA-VOO for which is estimated to require
initial funding of $1,000,000 USD.

-     EVOO will be responsible for the development and maintenance of the
SEA-VOO platform, with Sealand providing initial funding support.

-     EVOO will receive a net platform revenue royalty of 10% from all
revenues generated through the SEA-VOO platform in the APAC region.

-     Sealand will benefit from a waiver of the annual license fee for the
first four years of the contract. After the fourth year, EVOO retains a
buy-back right, which can be exercised with a termination payment equal to the
greater of $1,000,000 or the total net platform revenue from the preceding 24
months.

 

COMPANY DOMAIN & WEBSITE CHANGE

 

The Company wishes to advise shareholders that is has changed its domain name
and updated its website, the new Company domain is
www.sealandcapitalgalaxy.com (http://www.sealandcapitalgalaxy.com)

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018 (as amended).

 

 

 

-Ends-

 

 

Enquiries:

 

Sealand Capital Galaxy Limited

 

Dr. Thomas Sawyer (Chief Executive Officer)

Ms. Elena Law (Chairwoman)

Mr. Geoffrey Griggs (Non-Executive Director)

 

Bowsprit Partners Limited (Financial Adviser)
       +44 (0) 203 833 4430

 

Stockbox Media (PR/IR)

info@stockboxmedia.com (mailto:info@stockboxmedia.com)

 

 

Notes to Editors:

The Company's Shares are traded on the transition category of the London Stock
Exchange under the ticker LSE: SCGL

 

Further information on Sealand Capital Galaxy Limited is available on its
www.sealandcapitalgalaxy.com (http://www.sealandcapitalgalaxy.com)

 

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