- April 28, 2017
LONDON (Alliance News) – Sealand Capital Galaxy Ltd said on Friday it intends a bonus share issue following its re-admission to trading, as it booked a widened loss for 2016.
Sealand said that post-tax it made a loss on ordinary activities of GBP250,839 for 2016, widened from GBP46,553 in 2015.
The company resumed trading on the London market in February, after acquiring SecureCom Media Holdings Ltd for GBP1.0 million in cash and 10.0 million shares issued at 20 pence per share. Its shares were originally suspended in March 2016, pending the acquisition.
Sealand also said Friday it is proposing to expand its issued share capital by way of a bonus issue of 423.0 million shares, in order to increase liquidity and marketability of its shares. The shares will be issued free of charge in proportion to shareholders current interests, and will begin trading on May 26.
Shares in Sealand Capital were untraded at 25.00 pence on Friday.
By Adam Clark; [email protected]
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