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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 | |
1. | TO RECEIVE the Annual Report and Accounts for the year ended 31 December 2016. | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
2. | THAT Crowe Clark Whitehill LLP be re-appointed as the Company's auditor | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
3. | THAT Mr Nicholas Lyth, is re-appointed as a Director in accordance with the Articles. | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
4. | THAT Mr Chung Lam Nelson Law, is re-appointed as a Director in accordance with the Articles. | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
5. | THAT Mr Chih Hong Leon Lim, is re-appointed as a Director in accordance with the Articles. | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
6. | THAT, conditional on Admission, the directors be and are hereby authorised to apply the sum of £42,300 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 | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
7. | THAT, the amended and restated memorandum and articles of association is hereby approved and adopted with immediate effect | 25,000,000 | 100 | Nil | 0 | 25,000,000 | 47.9 | Nil |
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.