REG - Sealand Capital - Issue of Equity

Sealand Capital GalaxyAnnouncement

21/12/2022 07:00

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RNS Number : 3893K  Sealand Capital Galaxy Limited  21 December 2022

For release: 21 December 2022

 

Sealand Capital Galaxy Limited

("Sealand" or the "Company")

 

Issue of Equity

 

Sealand Capital Galaxy Limited (LSE: SCGL) announces that it has agreed to
issue 115,211,604 new ordinary shares to its Executive Chairman, Law Chung Lam
Nelson, in return for the partial conversion of the loan owed by the Company
to him. The conversion price per share is £0.0021, being the closing bid
price on 15 December 2022, making a total conversion of £241,944. The Board
of the Company welcomes this transaction as being an important step in
strengthening the balance sheet of the Company and preserving the Company's
cash. Following this, Mr Law will own 50.7% of the enlarged equity of the
Company.

 

Application will be made for the 115,211,604 new ordinary shares to be
admitted to trading which is expected to be on or around 5 January 2023.

 

The new ordinary shares will rank pari passu with the existing ordinary shares
of the Company. Following the issue of the new ordinary shares, the Company's
issued share capital will comprise of 715,815,080 ordinary shares. This figure
of 715,815,080 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 in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance and
Transparency Rules.

 

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
 Law Chung Lam Nelson, Executive Chairman              + 44 (0) 753 795 9788

 Geoffrey Griggs, Independent Non-executive Director   +44 (0) 20 7623 3673

 Novum Securities Limited
 David Coffman/ Daniel Harris                          + 44 (0) 20 7399 9400

 

Notes to Editors:

 

The Company's Shares are traded on the Official List of the London Stock
Exchange's main market for listed securities under the ticker SCGL.

 

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

 

The notification below is made in accordance with the requirements of the EU
Market Abuse Regulation, requiring notification and public disclosure of
transactions by persons discharging managerial responsibilities and persons
closely associated with them:

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Law Chung Lam Nelson

 2    Reason for the notification

        Grant of Options and Placing and Issue of Shares
 a)   Position/status                                               Executive Chairman

 b)   Initial notification /Amendment                              Initial notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         Sealand Capital Galaxy Limited

 b)   LEI                                                          2138009EB25MJIULQO19

 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted

 a)   Description of the financial instrument, type of instrument  Ordinary shares of £0.0001 each ("Shares")

      Identification code                                          ISIN Code:

                                                                   KYG7948E1026

 b)   Nature of the transaction                                    Issue of equity

 c)   Price(s) and volume(s)

                                                                                   Price(s)                        Volume(s)
                                                                                   0.21p                           115,211,604 Shares

 d)   Aggregated information

      - Aggregated volume                                          115,211,604 Shares

      - Price                                                      0.21p

 e)   Date(s) of the transaction                                   20 December 2022

 f)   Place of the transaction                                     Outside of a trading venue

 

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