LONDON – Sealand Capital Galaxy Limited (LSE: SCGL), a specialist IT, social media and technology opportunities company, 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 Ordinary General Meeting, shareholders unanimously approved the Board of Directors' reports and financial statements for the years ending 31 December 2019 through 2022. In addition, PKF Littlejohn LLP was re-appointed as auditors, and directors Elena Lu and Jeffrey Griggs were re-elected.
After the General Assembly was held, Sealand Capital confirmed the acceptance of 111,000,000 ordinary shares in the company’s shares. London Stock Exchange (LON:), is expected to enter into force on approximately January 14, 2025. This step is part of the company's strategy to adopt revolutionary technologies and strengthen its position in the market.
The partnership with EVOO AI follows a due diligence process, with Elena Lu, CEO of Sealand Capital, expressing confidence in the technology and business potential of EVOO's Olive platform, a luxury e-commerce marketplace. Neil Stephenson-Moore, CEO of EVOO AI, highlighted the strategic fit with Sealand, particularly in leveraging Sealand's relationships in the Asia Pacific region for growth opportunities.
Investment terms include a £300,000 loan facility for EVOO, with interest accruing 12% over 18 months. In addition, Sealand will receive 1,000,000 stock warrants, with the option to convert into common stock at a price that may be lower than the IPO price.
The companies have planned to hold a webinar to inform shareholders of the details of the partnership and investment, with more announcements expected in the new year.
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