Last checked at 20 May 2019 07:00
Strictly embargoed until: 07.00, 20 May 2019
Sealand Capital Galaxy Limited
("Sealand", or the "Company")
New contract win for New Sky Global Media
("New Sky Global")
Sealand Capital Galaxy Limited (LSE: SCGL) is pleased to announce that its 55%-owned subsidiary, New Sky Global, a Hong Kong-incorporated digital marketing and advertising firm, has signed a contract ("the contract") with Tenet, a Multi-Channel Network (MCN) provider, a subsidiary of GD.QQ.COM and Suncity Group Leisure Services Limited.
The contract is expected to earn revenues of RMB 4,500,000 (approximately £510,300) for New Sky Global with 60% receivable in this financial year and the remainder to be paid six months after management of the account begins, and on the condition that Suncity's follower count reaches a set target.
Under the terms of the contract, New Sky Global will manage Suncity's TikTok account (initially launched as Douyin in China). TikTok is a leading short video platform with 500 million active users in Asia and around the world. New Sky Global will handle basic setup, video content planning, management, filming, production and other value-added services for Suncity such as redirecting their TikTok followers to their WeChat account.
The TikTok account will be used for brand building and to increase member signup to the 'Sun Supreme Club'. New Sky Global will manage the TikTok account for an initial eight months, starting in June 2019 and will also produce 64 short videos during this time.
Tenet creates short video productions and offers other promotional services and New Sky Global will work with them to deliver the best possible campaign for Suncity.
New Sky Global is also in discussions with other parties regarding further marketing projects, including the Hoiana Resort, De Nang Catheral, Vietnam. The resort is expected to open in the second half of 2019 and New Sky Global hopes to be awarded the marketing contract, bringing additional revenues to Sealand in this financial year.
Nelson Law, Executive Chairman of Sealand, commented:
"We are delighted that our recent acquisition, New Sky Global, has entered into a contract with Suncity so soon after our investment and that it will generate meaningful revenues for Sealand. This proves that our Company's strategy of taking advantage of the enormous opportunities in the Asian digital marketing space is working. New Sky Global's relationship with Suncity will help its marketing effort as it signs up new clients who are looking to increase user traffic to their websites, platforms and accounts."
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Enquiries:
Sealand Capital Galaxy Limited
Law Chung Lam Nelson, Executive Chairman
+44 (0) 7537 959788
Barney Battles, Non-Executive Director
+44 (0) 778 976 6242
Belvedere Communications
John West
+44 (0) 2036 872756
Llew Angus
+44 (0) 2036 872757
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/