Business
Statement re Lock-in
Statement re Lock-in.
About this update from Sealand Capital Galaxy Ltd.
[{"type":"text","content":"\n \nRNS Number : 8850E Sealand Capital Galaxy Limited 14 February 2018 \n\n 14 February 2018\nSealand Capital Galaxy Limited (LSE: SCGL)\n(\"Sealand\" or the \"Company\")\nDisposal of locked-in shares\n\nAs announced by the Company in its prospectus dated 22 February 2017, Chua Tien San agreed with the Company not to dispose of, and to procure that no party associated with him disposes of, any of the shares in the Company for a period of 24 months from the date of admission, subject to certain limited exceptions (the \"Lock-in\"). \nThe Company announces that it has been made aware that a minimum of 10.8 million ordinary shares of £0.0001 each in the Company (each an \"Ordinary Share\") were transferred to a third party by Mr Chua in December 2017, in breach of the terms of the Lock-in.\nIn addition, the Company is investigating the circumstances surrounding transfers of a further 17.2 million Ordinary Shares by Mr Chua in December 2017, in breach of the terms of the Lock-In.\nThe Company's attempts to ascertain the level of Mr Chua's current ownership and enforce the terms of the Lock-in are ongoing. However, the Company has received certain assurances in connection with 81.3 million Ordinary Shares that trading in such Ordinary Shares will not be permitted pending resolution of this matter and, in relation to 62 million of the 81.3 million Ordinary Shares, Mr Chua has agreed to extend the Lock-in for a further period of six months, until 28 August 2019. \nThe Company will update the market with further developments in due course.\n Enquiries:\n Sealand Capital Galaxy\nNicholas Lyth, Non-Executive Director 07769 906 686\n \n \n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END STRFZLFFVLFFBBE\n ","length":3312,"tagName":"div"}]