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 Annual General Meeting, shareholders unanimously approved the directors’ reports and financial statements for the years ending 31 December 2019 until 2022. In addition, PKF Littlejohn LLP was re-elected auditor and directors Elena Law and Geoffrey Griggs They were re-elected.
Following the Annual General Meeting, Sealand Capital confirmed the admission of 111,000,000 ordinary shares to the London Stock Exchange (LON:), which is expected to come into effect around January 14, 2025. This measure is part of the company’s strategy to adopt disruptive technologies and solidify 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 business potential of EVOO’s Olive platform, a luxury e-commerce marketplace. EVOO AI CEO Neil Stevenson-Moore highlighted strategic alignment with Sealand, particularly in leveraging Sealand’s relationships in APAC for growth opportunities.
The investment terms include a £300,000 loan facility for AOVE, with interest accruing at 12% over a term of 18 months. Additionally, Sealand will receive 1,000,000 share purchase warrants, with an option to convert into common shares at a price potentially lower than the IPO price.
The companies have planned a webinar to inform shareholders about the partnership and details of the investment, with further announcements expected in the new year.
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