Sealand Capital Galaxy Limited Unaudited Interim Results (0232O)

TIDMSCGL

RNS Number : 0232O

Sealand Capital Galaxy Limited

30 September 2019

For release: 07.00 a.m., 30 September 2019

Sealand Capital Galaxy Limited

("Sealand", or the "Company")

Unaudited Interim Results for the six months ended 30 June 2019

Sealand Capital Galaxy Limited (LSE: SCGL), a Company engaged in the investment and acquisition of digital marketing, mobile payment and other IT related businesses with high growth potential, announces unaudited Interim Results for the six months ended 30 June 2019 with respect to the Company and its subsidiaries (the "Group"). The Interim Results are available to view on the Company's website at http://scg-ltd.com/.

Key highlights:

- In order to enrich the Group's marketing product mix, the Company, through a wholly owned subsidiary, subscribed for a 55% interest in New Sky Global Media, a digital marketing services provider.

- New Sky Global Media contract wins with Tenet, a Multi-Channel Network provider, a subsidiary of GD.QQ.COM and Suncity Group Leisure Services Limited.

- Memorandum of Understanding signed with Guangdong HuaCheng Technology Limited, the national agent of Tencent Regional Marketing Pioneer ("Tencent RMP Car"), to form a new equity Joint Venture company that will obtain and own a license to operate Tencent RMP Car's activities across China. Tencent RMP Car is a leading Chinese online portal developed by Tencent, providing car related information, news, professional reviews and sales enquiry services.

Nelson Law, Executive Chairman commented:

"The mobile gaming, payment and advertising sector in China and across the Asian region remains buoyant and weathers macroeconomic instability and the ongoing trade dispute with the United States. Digital relationships between consumers and merchants continue to change, and where there is change, there will always be opportunity. In this regard our investment in New Sky Global Media enables us to tap into the countless opportunities that arise from the Asian digital marketing space. Being a preferred overseas licensed operator of Tencent products and services also allows us to exploit opportunities domestically in China, such as Tencent RMP car; as well as using data driven solutions to help overseas merchants target inbound Chinese travelers and expats.

"We are in advanced discussions to secure the funding needed to monetize these opportunities fully and look forward to updating the market in due course."

-Ends-

Enquiries

 
 Sealand Capital Galaxy Limited 
 Law Chung Lam Nelson, Executive Chairman    + 44 7537959788 
 
 Belvedere Communications                    [phone] 
 

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.

-- 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/ 

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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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(END) Dow Jones Newswires

September 30, 2019 02:00 ET (06:00 GMT)