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 specialized AI learning models for the luxury goods sector.
At the AGM shareholders unanimously approved the directors’ reports and financial statements for the years ended 31 December 2019 to 2022. Additionally, PKF Littlejohn LLP was re-appointed as auditors and directors Elena Law and Geoffrey Griggs were re-elected.
After the annual assembly, Sealand Capital confirmed the receipt of 111,000,000 ordinary shares in London Stock Exchange (LON:), is expected to take effect 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 follows a due diligence process, with Sealand Capital CEO Elena Law expressing confidence in the technology and commercial potential of the EVOO Olive platform, a luxury e-commerce marketplace. EVOO AI’s CEO, Neil Stevenson-Moore, highlighted the strategic alignment with Sealand, particularly in leveraging Sealand’s relationship with APAC for growth opportunities.
Investment terms include a £300,000 loan to EVOO, with interest accruing at 12% over an 18-month term. In addition, Sealand will receive 1,000,000 warrants to purchase shares, with an option to convert to common shares at a price potentially below the IPO price.
The companies have planned a webinar to inform shareholders about the partnership and investment details, and further announcements are expected in the new year.
This announcement is based on a public statement and contains privileged information as defined by the Market Abuse Regulation.
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