Sealand Capital Galaxy Limited

("Sealand" or "the Company")

Exclusive Distribution Contracts Update

Sealand Capital Galaxy Limited (LSE: SCGL) is pleased to announce that it has entered an exclusive, three-year product-specific distribution contract with ITP Bulgaria Ltd ("ITP") to become the sole distributor of ITP's Living Garden Honey brand in Hong Kong, Macau, and mainland China ("the territories"). The Company will sell ​​Living Garden Honey (the "Honey") online through its England Pie Tmall flagship store, through other local networks, and will actively explore further offline sales channels. The Company also plans to sell the Honey through Harvey Nichols in Hong Kong where the Company is already an authorised supplier of certain other fine European goods.

According to sales data from Tmall, the major Chinese-language website for business-to-consumer online retail, the total amount of honey sold through the platform in 2020 was RMB 1.2 billion, an increase of 51% over 2019. Imported honey accounts for about 30% of total market sales on Tmall. 

Living Garden Honey is a brand of natural and organic Bulgarian honey. The mono-floral honeys are extracted by cold pressing methods. The Honey is raw, unfiltered, unheated, sugar free, additive free, GMO-free, unpasteurized, and contains nothing artificial. As such the Honey preserves the natural aroma, nutritional value, and fine taste of natural honey.

Bulgarian honey combines several unique honey types of certain valuable and healing meadow plants such as acacia, lime, thyme, and lavender. An increasing amount of Bulgarian honey is also certified as "bio".  By the number of organic certified bee families, Bulgaria ranks first in Europe, with prerequisites for this certification that include clean and protected natural environments.

Nelson Law, Executive Chairman of the Company commented:

"Living Garden Honey is the latest premium European brand for which we are the exclusive distributor in Hong Kong, Macau and mainland China. Other brands include HH Simonsen, Inari, Czech & Speake, The Gruff Stuff, Heath London and Carter Beauty by Melissa Carter.  We will continue to add more names alongside these, as demand for quality, niche European products in China continues to increase.  We plan to engage with more merchants, especially at trade shows - whether virtual or in person - with a view to enter further exclusive distributor contracts. Our sales experience, scale and sophisticated digital infrastructure allows us to offer various packages to potential sellers in the Chinese market to test a product's popularity. We can offer creative and flexible ways for a merchant to access our services to establish whether it would be beneficial for the merchant to enter into a full-scale distribution contract, and we invite purveyors of European brands who are looking to expand into China to contact us."    

-Ends-

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/