TIDMSHWE
RNS Number : 0450W
Myanmar Strategic Holdings Ltd
13 August 2020
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company")
Proposed acquisition of a minority interest in
Myanmar Investments International Limited
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses located in Myanmar,
is pleased to announce that it has today exchanged contracts with
Civetta Capital Ltd. to purchase 897,500 shares in Myanmar
Investments International Limited ("MIL") at a price of US$0.68 per
MIL share for a total consideration of US$610,305 (the "Proposed
Transaction"). The Proposed Transaction is expected to complete by
31 October 2020.
MIL is an AIM quoted Myanmar-focused investment company with
investments in the telecommunications and financial sectors
comprising an indirect shareholding of 4.1 per cent. in AP Towers
Holdings Pte. Limited and a 37.5 per cent shareholding in Myanmar
Finance International Limited.
The consideration will comprise of:
-- Cash of US$457,725: US$0.51 per MIL share; and
-- MSH shares equivalent to US$152,580: one newly issued MSH
share for ca. 118 MIL shares for a total of 7,629 MSH shares (the
"Consideration Shares") (equivalent to ca. US$0.17 per share based
on an agreed issuance price of US$20 per MSH share).
The cash element of the consideration will be settled from MSH's
existing cash resources. Upon completion of the Proposed
Transaction MSH is expected to have an interest in 2.4 per cent. of
the issued share capital of MIL (based on the issued share capital
of MIL as of today's date).
On completion of the Proposed Transaction the Company will make
an application for the Consideration Shares to be listed on the
standard segment of the Official List and to trading on the main
market for listed securities of the London Stock Exchange plc.
Commenting on the Proposed Transaction, Enrico Cesenni, CEO of
Myanmar Strategic Holdings, said:
"I am excited to welcome Civetta Capital, an experienced
emerging markets investor based in Asia, as a strategic shareholder
in MSH.
"As demonstrated by MSH's prior approach to MIL, MSH's
management believes that MSH's and MIL's portfolios and shareholder
bases are complementary. MSH would therefore consider further
growing its ownership in MIL over time and offer liquidity through
its shares to MIL's investors."
Commenting, Alex Klein Tank, founder of Civetta Capital,
said:
"We are delighted to join Myanmar Strategic Holdings as a
strategic long-term shareholder while generating some liquidity for
our legacy investment in MIL. Civetta Capital has been committed to
Myanmar since 2017 through its investment in MIL. The Proposed
Transaction will enable Civetta Capital to generate immediate
liquidity for a substantial portion of its initial investment,
while maintaining exposure to the Myanmar and Vietnam markets
through the MSH operating portfolio.
"Through the Proposed Transaction process, the MSH management
convinced us of the quality of the portfolio and brands that MSH
established in Myanmar and Vietnam over the years. We look forward
to working together with the MSH team to further grow its operating
portfolio."
For more information please visit www.ms-holdings.com or
contact:
Myanmar Strategic Holdings Ltd.
Richard Greer, Independent Non-Executive richardgreer@me.com
Chairman enrico@ms-holdings.com
Enrico Cesenni, Founder and CEO
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor +44 (0)20 3328 5656
Yellow Jersey PR (Financial PR)
Georgia Colkin
Henry Wilkinson +44 (0) 7951 402 336
Notes to editors
Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. (LSE: SHWE) is an independent
developer and manager of consumer businesses in Myanmar and
Vietnam, two of the fastest growing economies in the world. The
Company's portfolio currently focuses on Education, Services and
Hospitality with the view to expand within the broader consumer
sector.
Education sector: the Company currently has exclusive
development and franchising agreements with Wall Street English for
ten English language centres across Myanmar over the course of the
ten-year agreement. Two centres were opened in 2017, a third in
August 2018, and a fourth in February 2020. As of April 2020, Wall
Street English Myanmar served over 4,000 students since its
inception.
In July 2020, the Company completed the acquisition of the Wall
Street English business in Vietnam. Founded in 2013, the WSE
Vietnam business operates through seven centres in Ho Chi Minh and
Binh Dhuong serving over 6,000 students.
The Company also operates a joint venture with Auston Institute
of Management to develop and operate the Auston College Myanmar.
The private school opened in May 2018 offering diplomas in
Engineering Technology, Mechanical Engineering and Networking,
Information Systems, and Security. English language learning is
also provided by the Company's nearby Wall Street English centre.
In February 2020, the Company announced a partnership with
Liverpool John Moores University to provide high quality
engineering training programmes for young, working professionals in
Myanmar, to be taught by Auston College Myanmar's teaching staff at
its Junction Square complex in Yangon.
The Company launched its first private K-12 international
school, the Yangon American International School in Yangon, in
August 2019.
Services sector: through its acquisition of EXERA, the Company
offers security, risk management and secure logistics services,
including cash-in-transit. Founded in 2013, EXERA employs
approximately 1,300 well-trained and high-quality security officers
making it one of the largest security services providers in
Myanmar.
Hospitality sector: through its portfolio, the Company currently
manages over 470 beds across four boutique hotels in three core
tourist locations across Myanmar, operating under the award winning
Ostello Bello budget hospitality brand. MSH operates an asset light
strategy, entering into long-term operating and management
agreements with local hotel owners.
Myanmar and Vietnam were among the fastest growing economies in
Asia in 2017-2019 (Source: Asian Development Bank). In 2020, their
annual GDP growth is expected to be respectively 2% and 4% (Source:
Asian Development Bank).
MSH is well positioned to provide investors early exposure to
Myanmar's and Vietnam's strong economic fundamentals enhanced by
ASEAN's wider growth prospects.
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END
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August 13, 2020 03:54 ET (07:54 GMT)
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