TIDMSHWE
RNS Number : 3454W
Myanmar Strategic Holdings Ltd
17 August 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
17 August 2020
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company")
Further re subscription to Share Issuance Programme
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses in Myanmar and
Vietnam, is pleased to announce that, further to the announcement
of 26 May 2020 in respect of the launch of a share issuance
programme, it has raised an additional US$385,000 (before expenses)
through the issue of 19,250 new ordinary shares in the capital of
the Company (the "Subscription Shares") at a price of US$20 per
share (the "Subscription"). The Subscription has been completed
today.
The Subscription funds, which have been received in full by the
Company, have been raised from existing shareholders pursuant to
the terms of the previously announced Share Issuance Programme.
Details of the Share Issuance Programme, which provides the Company
with continued flexibility to raise further capital and has now
raised a total of US$6.4million to date, were announced by the
Company on 26 May 2020.
In line with the objectives of the Share Issuance Programme, the
Directors believe this Subscription will:
-- allow the Company to increase the speed at which it can scale
and expand the Group's existing operations;
-- support the acquisition of a minority stake in Myanmar
Investments International Limited as announced on 13 August 2020;
and
-- partially satisfy market demand for the Company's shares and
improve liquidity in the market for those shares.
An application will be made shortly for the Subscription Shares
to be listed on the standard segment of the Official List and to be
admitted to trading on the London Stock Exchange's main market for
listed securities. It is expected that such admission will become
effective and that dealings in the Subscription Shares will
commence at 8.00 a.m. on 21 August 2020.
The Subscription Shares will rank pari passu in all respects
with the existing ordinary shares of the Company, including the
right to receive dividends and other distributions declared
following their issue. The Subscription Shares will represent 0.7%
of the enlarged issued share capital of the Company.
Update on admission of shares in connection with S$6.0 million
subscription
In addition, the Company can confirm that an application will be
made shortly for the 187,500 new ordinary shares in the Company to
be issued to MACAN Pte. Ltd. and A-Star-Education Holdings Pte.
Ltd. pursuant to the announcement of 20 July 2020 in connection
with the completion of the second tranche of the previously
announced subscription to raise US$6.0 million. It is expected that
such admission will become effective and that dealings in the
187,500 new ordinary shares in the Company will commence at 8.00
a.m. on 21 August 2020.
Total voting rights
Following admission of the 206,750 new ordinary shares in the
Company detailed above, the Company will have a total of 2,797,291
Ordinary Shares in issue. The above figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
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)20 3004 9512
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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