Sealand Capital Galaxy Limited AGM Statement (2586G)

TIDMSCGL

RNS Number : 2586G

Sealand Capital Galaxy Limited

25 May 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.

25 May 2017

SEALAND CAPITAL GALAXY LIMITED (LSE: SCGL)

("Sealand", "SCGL" or "the Company")

Results of 2016 Annual General Meeting

Completion of Bonus Issue

Annual General Meeting

The Board of Sealand announces that all the resolutions proposed at the Company's Annual General Meeting ("AGM") held today at 1 pm (local time) in London, were duly passed by shareholders.

The results of the AGM are as follows:

 
 RESOLUTIONS                         Votes for     %    Votes against   %   Votes total   % ISC Voted   Votes Withheld 
----------------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
       TO RECEIVE the Annual 
        Report and Accounts for 
        the year ended 31 December 
 1.     2016.                        25,000,000   100   Nil             0   25,000,000    47.9           Nil 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 2.    THAT Crowe Clark Whitehill    25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        LLP be re-appointed as the 
        Company's auditor 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 3.    THAT Mr Nicholas Lyth, is     25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        re-appointed as a Director 
        in accordance with the 
        Articles. 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 4.    THAT Mr Chung Lam Nelson      25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        Law, is re-appointed as a 
        Director in accordance 
        with the Articles. 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 5.    THAT Mr Chih Hong Leon Lim,   25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        is re-appointed as a 
        Director in accordance 
        with the Articles. 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 6.    THAT, conditional on          25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        Admission, the directors 
        be and are hereby 
        authorised to apply the 
        sum 
        of GBP42,300 in paying up 
        in full 423,000,000 Bonus 
        Shares and to allot and 
        issue such Bonus 
        Shares, credited at the 
        rate of nine such Bonus 
        Share(s) for every one 
        Existing Ordinary Share 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 7.    THAT, the amended and         25,000,000   100   Nil             0   25,000,000    47.9           Nil 
        restated memorandum and 
        articles of association is 
        hereby approved and 
        adopted with immediate 
        effect 
----  ----------------------------  -----------  ----  --------------      ------------  ------------  --------------- 
 

The total number of shares in issue at 25 May 2017 was 47,000,000.

The full text of the resolutions may be found in the Notice of the Annual General Meeting, which is available on the Company's website http://www.scg-ltd.com

Bonus Issue

Following the passing of the resolutions proposed at the AGM, the Company confirms the issue, subject to admission, the issue of 423,000,000 Ordinary Shares to shareholders on the basis of nine Bonus Shares for every one Existing Ordinary Share held at 5 pm on 25 May 2017.

Such Bonus Shares have the same rights and are subject to the same restrictions as the Existing Ordinary Shares in issue prior to the Bonus Issue.

CREST Shareholders' accounts will be credited with the new Ordinary Shares to which they are entitled under the Bonus Issue on 26 May 2017.

New share certificates are expected to be dispatched to those Shareholders who held their Existing Ordinary Shares in certificated form, on or before 2 June 2017.

Admission and dealings in the Bonus Shares is expected to commence on 26 May 2017.

Enquiries:

Nicholas Lyth: 07769906686

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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May 25, 2017 08:18 ET (12:18 GMT)