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)
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
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