Last checked at 30 Nov 2020 07:00
For release: 07.00, 30 November 2020
Sealand Capital Galaxy Limited (LSE: SCGL)
("Sealand" or "the Company")
Market Update
New Sky Global Media Limited: Contract Extension
Sealand Capital Galaxy Limited (LSE: SCGL) is delighted to announce an extension to the contract between its subsidiary, New Sky Global Media Limited ("NSG"), and Suncity Group Leisure Services ("Suncity"), which is based in Macau and owns hotels and resorts across Asia.
NSG is a digital marketing and advertising company which provides professional 'one-stop' solution services to multinational corporations. The Company announced on 6 November 2020 that NSG had been awarded a new contract by Suncity, a longstanding client, to set-up and operate a new Douyin (more commonly known outside of China as TikTok) campaign to promote Suncity's opportunities around the 67th Macau Grand Prix.
This project has now been formally extended and NSG will provide Douyin with operation and management services for the Suncity Douyin Official Account until 31 March 2021. NSG will be paid a consideration of USD 67,000 for the contract extension which will be jointly executed by NSG and its partner Tenet, who will provide a total of 20 Douyin short videos to share on Suncity's Official Account. Work will include content planning, shooting, post-production and release.
Nelson Law, Executive Chairman of the Company, commented:
"This contract between NSG and Suncity was initially signed for a consideration of USD 45,000, and we are very pleased to confirm an extension to the contract resulting in an additional USD 67,000 of revenue for NSG. The extension by Suncity is a clear validation of the quality of NSG's work and is a testament to the good service that NSG has delivered to Suncity.
"As Macau is now virtually COVID-19 free, and customs clearance with various parts of China has been reestablished, NSG has also begun to discuss further marketing plans for Suncity in 2021."
This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014.
-Ends-
Enquiries:
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Sealand Capital Galaxy Limited |
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Law Chung Lam Nelson, Executive Chairman | + 44 (0) 753 795 9788 |
Novum Securities Limited |
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David Coffman | + 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/