THEINFORMATION CONTAINED WITHIN THIS
ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE
INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION(EU) NO.
596/2014, AS AMENDED WHICH, BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, FORMS PART OF UK LAW. ON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE ("RIS"),
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
27 January
2025
Sealand Capital Galaxy
Limited
("Sealand" or the
"Company")
Formation of 'SEA-VOO AI
ASIA'
Sealand Capital Galaxy Limited [LSE: SCGL]
("Sealand" or the "Company"), an IT, Social Media & Technology
company focused on consolidating compelling opportunities in the
global marketplace, is pleased to announce that the Company has
formalised terms with EVOO AI plc ("EVOO") to create a proprietary
platform, named "SEA-VOO AI ASIA" or "SEA-VOO". This agreement will
give Sealand's wholly-owned operating subsidiary SCG Group Limited
(a company operating distribution agreements with international
brands seeking access to the APAC market) access and exclusive
distribution rights to EVOO's AI technology platform.
SEA-VOO AI
ASIA
Over the last 5 years, SCG Holdings Limited has
focused on partnering with growing consumer brands that have been
seeking access to the APAC region. SCG Holdings Limited was created
to provide brands with access to scalable markets in the APAC
region through providing distribution and payment gateway
solutions, enabling the APAC region to access global products with
transactional and settlement ease.
International distribution agreements within the
APAC region have proven to be drivers in a strong marketplace that
remains highly competitive. The formation of SEA-VOO is to ensure
that Sealand continues to compete through innovation in the
marketplace. Through creating and developing this and other
technologies with the objective of successfully launching a
proprietary platform will provide the APAC region with curated and
customised access to products through a centralised platform and
community.
PARTNERSHIP
In November last year, the Company announced its
intention to enter a strategic partnership agreement with EVOO AI
plc [see news release
here], Sealand elected to proceed with this partnership [see
news release
here] earlier this month.
EVOO is a proprietary data platform with
specialized AI learning models tailored to drive meaningful
commercial and consumer insights in the luxury goods sector,
leading to increased revenue for its customers. Integrating
proprietary, open-source, and partner AI models, the platform
delivers in-depth, actionable intelligence on market trends and
consumer behaviours. These insights are primarily derived from
applications targeted at consumers, retailers, and brands. Its
flagship application, Olive, is a luxury e-commerce marketplace
that features influencer-curated boutiques, offering consumers a
personalized shopping experience.
EVOO is at a very exciting juncture in its
present corporate development, supported by a management team with
a track-record of success in the industry that they are operating
in and pursuing.
SEA-VOO allows Sealand to leverage the existing
developments and infrastructure that EVOO have built whilst taking
control over the technology's development and roll-out in the APAC
region. This involves securing IP and exclusivity, as well as the
majority of any future earnings that the platform may derive in the
APAC territory. This strategy is consistent with Sealand's
commitment to adapting to technological advances, such as are being
seen in the AI Industry, through the creation of complimentary
strategic partnerships and transactions that can complement, grow
and scale the Company's existing operations in the APAC region and
allow us to raise the Company's competitive profile in the market
place.
Sealand's
Chief Executive Officer, Dr. Thomas Sawyer
commented,
"The formation
and creation of SEA-VOO is representative of how we want to
innovate our business through forming strategic partnerships that
drive value across our group companies. Our aim is to create
opportunities for exposure to exciting new technologies and create
growth-enabling synergies in further business verticals across our
existing operations. EVOO's ambitions of delivering a customised
experience to the consumer through the combination of specific data
models is an ambitious and exciting venture that we are happy to be
supporting early, and which, through our development of their
unique technology, has a clear route to market alongside our
Chinese e-commerce business."
EVOO's Chief
Strategy Officer, Michael Callas commented,
"EVOO AI Plc
is thrilled to deepen our partnership with Sealand through this
exciting new venture, SEA-VOO. Collaborating with Dr. Sawyer and
his innovative team, we are confident that SEA-VOO will serve as a
powerful platform to highlight the creativity and unique style of
the APAC region on both local and global stages. Together, we are
redefining how luxury brands engage with consumers, blending
technology and regional expertise to shape the future of luxury
e-commerce."
See Michael's interview on Stockbox here:
https://www.youtube.com/watch?v=oe3mEAp22t0
SEA-VOO
PARTNERSHIP TERMS
- Sealand has secured exclusive rights to EVOO's Olive* platform
for the APAC region, including markets such as China, Japan, South
Korea, Taiwan, Thailand, Singapore, Vietnam, Malaysia, Hong Kong
(China), Myanmar, and Macau (China), for an initial period of five
years under the name "SEA-VOO".
- Under the partnership terms, EVOO retains all rights,
including Intellectual Property Rights, to the Platform, however
all Intellectual Property Rights created exclusively for Sealand,
including the Custom Application tailored for the APAC market, will
be owned by Sealand.
- SCG shall be lead
financier and co-developer in the commercialisation and build-out
of SEA-VOO for which is estimated to require initial funding of
$1,000,000 USD.
- EVOO
will be responsible for the development and maintenance of the
SEA-VOO platform, with Sealand providing initial funding
support.
- EVOO
will receive a net platform revenue royalty of 10% from all
revenues generated through the SEA-VOO platform in the APAC
region.
- Sealand will benefit from a waiver of the annual license fee
for the first four years of the contract. After the fourth year,
EVOO retains a buy-back right, which can be exercised with a
termination payment equal to the greater of $1,000,000 or the total
net platform revenue from the preceding 24
months.
COMPANY DOMAIN
& WEBSITE CHANGE
The Company wishes to advise shareholders that
is has changed its domain name and updated its website, the new
Company domain is www.sealandcapitalgalaxy.com
The
information contained within this announcement is deemed by the
Company to constitute inside information as stipulated under the
Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018 (as amended).
-Ends-
Enquiries:
Sealand Capital Galaxy Limited
Dr. Thomas Sawyer (Chief Executive
Officer)
Ms. Elena Law (Chairwoman)
Mr. Geoffrey Griggs (Non-Executive
Director)
Bowsprit Partners Limited (Financial Adviser)
+44 (0) 203 833 4430
Stockbox Media (PR/IR)
info@stockboxmedia.com
Notes to Editors:
The Company's Shares are traded on
the transition category of the London Stock Exchange under the
ticker LSE: SCGL
Further information on Sealand
Capital Galaxy Limited is available on its www.sealandcapitalgalaxy.com
