MoU with MySQUAR Limited

RNS Number : 1163T

Sealand Capital Galaxy Limited

10 October 2017

 

10 October 2017

Sealand Capital Galaxy Limited ("Sealand" or the "Company")

MoU with MySQUAR Limited

The Company is pleased to announce that it has signed a non-legally binding Memorandum of Understanding ("MoU") with MySQUAR Limited ("MySQUAR"), a company listed on AIM (stock ticker: MYSQ), to enter into a partnership for the mobile games of MySQUAR to be distributed under Sealand's (through its subsidiaries) licence agreement on the Huawei inTouch platform and for Sealand's mobile games to be distributed in Myanmar through the MySQUAR platform. Huawei is the third largest smartphone provider in the Myanmar market which is the fastest growing in Asia. Details of the partnership shall be finalised within the next 60 days.

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications. 

Sealand makes investments and acquisitions in the information technology and social media sectors in the APAC (Asia-Pacific) region, with a particular focus on mobile gaming and mobile payment companies. Sealand recently invested a majority stake in a mobile game distribution company, Guangzhou Ruiyou Information Technologies Co., Ltd. ("Rightyoo"). Rightyoo has agreements in place with Huawei with a view to distribute Rightyoo's contents globally through Huawei InTouch platform, which cover 30 countries in Latin America, Africa, Southeast Asia and the Middle East. Sealand and MySUAR are in discussions to expand Rightyoo business geographical coverage through distributing Rightyoo mobile gaming contents through MySQUAR gaming platform in Myanmar

Eric Schaer, CEO of MySQUAR, said: "One of our key targets this year is to build new partnerships and achieve higher levels of monetisation. MySQUAR is excited to enter into this partnership and have the opportunity to expand its mobile game distribution.  MySQUAR is constantly looking for the best mobile games to release in Myanmar. This strategic partnership with Sealand will provide access to some of the best games in the market." 

"Sealand actively monitors opportunities in Southeast Asia and we are eager to enter the fastest growing market in the region, Myanmar, for mobile gaming and payments," said Nelson Law, Chairman of Sealand Capital Galaxy Limited. "We hope to leverage MySQUAR's first place position in the Myanmar mobile gaming market with millions of downloads and its partnership with MyPay Limited, to offer Rightyoo's gaming content through MySQUAR in Myanmar."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information:

Sealand Capital Galaxy Limited

Nicholas Lyth (Non-Executive Director)                                                Tel:  [phone]

MySQUAR Limited

Eric Schaer (Chief Executive)                                                                      Tel: [phone]

Pham Dang Hung (CFO)

SP Angel Corporate Finance LLP

Nominated Adviser                                                                                        Tel: [phone]

Stuart Gledhill/Soltan Tagiev

Beaufort Securities Limited

Broker

Jon Belliss/Elliot Hance                                                                                 Tel: [phone]

Public Relations

Damien McCrystal                                                                                           Tel: [phone]

[e-mail]

 

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