SCGL Sealand Capital Galaxy Limited

TIDMSCGL

RNS Number : 8012B

Sealand Capital Galaxy Limited

06 June 2023

For immediate release

Sealand Capital Galaxy Limited

("Sealand" or the "Company")

MOU SIGNED WITH PARTNER IN GREATER CHINA

Sealand Capital Galaxy Limited (the "Company") is delighted to announce the signing of a Memorandum of Understanding (MOU) with Changchun City Yuxin Investment Management Partnership Enterprise ("Changchun"). Changchun, a registered company in Jiangxi Province, China (Company Registration No.: 91360405397261793J), specialises in investment management, investment consulting, project investment, and business information consulting. The MOU serves as an initial agreement between both parties to explore potential cooperation opportunities and establish a framework for future discussions.

The primary objective of the MOU is to facilitate the strategic development of both entities, foster stronger collaboration, jointly explore market prospects, and drive business innovation. Within the MOU, the Company and Changchun will collaborate to identify areas of mutual benefit and explore potential cooperation in various domains. This includes the Company's planned relocation of its headquarters within China, with the targeted destination being Jiuting in Shanghai, China. Additionally, the optimisation of the Company's asset allocation will be a key focus area.

The cooperative efforts between the Company and Changchun will encompass several facets, such as the Company providing Changchun with resources and business channels pertaining to financial assets, while Changchun will deliver asset allocation optimisation services to the Company. Close collaboration is expected across various business ventures within both companies.

It is important to note that the MOU serves as a preliminary agreement, and any collaboration between the Company and Changchun is subject to further negotiations and due diligence. The terms and conditions of any future cooperation will be outlined in a formal agreement, to be negotiated by the involved parties.

Law Chung Lam Nelson, Executive Chairman commented:

"This strategic cooperation framework agreement marks a significant milestone for the Company, as it will bolster our competitiveness in the market and help us to achieve our strategic objectives. We eagerly anticipate working closely with Changchun to achieve mutual success and generate value for our shareholders."

-Ends-

 
 Enquiries: 
 Sealand Capital Galaxy Limited 
 Law Chung Lam Nelson, Executive    + 44 (0) 753 795 
  Chairman                           9788 
 

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/ 

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June 06, 2023 04:13 ET (08:13 GMT)

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