TIDMSHWE
RNS Number : 8027U
Myanmar Strategic Holdings Ltd
07 December 2021
7 December 2021
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company")
Result of Extraordinary General Meeting and Change of Company
Name
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses located in Vietnam
and Myanmar, confirms that, further to the passing of the
resolution at the Extraordinary General Meeting ("EGM") held by the
Company on 6 December 2021, the change of the Company's name to
"ASIA STRATEGIC HOLDINGS LIMITED" ("Asia Strategic") has been
approved and the Company's constitution has been updated
accordingly. Trading under the Company's new name is expected to be
effective from 8.00 a.m. on 9 December 2021.
In July 2020, the Group completed the acquisition of Wall Street
English Limited Liability Company ("WSE Vietnam"), a leading
provider of English Language Training services in Vietnam under the
franchise of Wall Street English. The acquisition marked a
milestone in the Group's international expansion and
diversification plans.
Further to the acquisition of WSE Vietnam, more than 50% of the
Group's revenues on an annualised run-rate basis are now generated
in Vietnam, providing diversification to the Company's shareholders
and mitigating the legacy single-country exposure. Furthermore,
more than 70% of the Group's revenues are now generated by its
fast-growing Education division.
The Directors believe that the Company's new name reflects the
growing geographical scope of the operations of the Company and
creates a new brand identity for the Group, affirming its vision to
become a leading operator and developer of consumer businesses in
Asia.
The Company's new website can be found at:
www.asia-strategic.com , which is expected to go live from 1
January 2022. The existing website www.ms-holdings.com will remain
active.
Enrico Cesenni, Chief Executive Officer of Myanmar Strategic
Holdings, commented:
"I am delighted to announce the approval of the Company's name
change to Asia Strategic Holdings Limited and trading under the new
name is expected to become effective on Thursday 9 December
2021.
"With more than 50% of the Group's revenues now being generated
in Vietnam, we believe that the Company's new name better reflects
the Group's broadened ambitions and strategy. While continuing to
build upon the Myanmar Strategic Holdings brand and our existing
operations in Vietnam and Myanmar, Asia Strategic will increasingly
focus on scaling its Education and Services businesses regionally,
leveraging the assets and capabilities built patiently and
successfully by teams on the ground over the years.
"We look forward to operating under the new name of Asia
Strategic and providing further updates on our activities in due
course."
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 Chief Executive
Officer
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor +44 (0)20 3328 5656
Yellow Jersey PR (Financial PR)
Henry Wilkinson
Matthew McHale +44 (0) 7951 402 336
Notes to editors
Asia Strategic Holdings Ltd. (formerly known as Myanmar
Strategic Holdings Ltd.)
Asia Strategic Holdings Ltd. (LSE: SHWE) is an independent
developer and manager of consumer businesses in Vietnam and
Myanmar, two of the fastest growing economies in the world over the
last decade. 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 a
ten-year agreement. Two centres were opened in 2017, a third in
August 2018, and a fourth in February 2020. As of September 2021,
Wall Street English Myanmar served ca 1,300 students.
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 ca. 2,600 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.
In August 2019 the Company launched its first private K-12
international school, the Yangon American International School
("Yangon American") in Yangon. In July 2021 Yangon American has
been recognised as an official International Baccalaureate Primary
Years Programme ("IB PYP") school by the International
Baccalaureate Organization.
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 1,600 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.
Vietnam and Myanmar were among the fastest growing economies in
Asia in 2017-2020 (Source: Asian Development Bank). In 2021 and
2022, Vietnam's annual GDP growth is expected to be 3.8% and 6.5%
respectively (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
MSCFZMGZVNDGMZG
(END) Dow Jones Newswires
December 07, 2021 02:00 ET (07:00 GMT)
Asia Strategic (LSE:ASIA)
過去 株価チャート
から 11 2024 まで 12 2024
Asia Strategic (LSE:ASIA)
過去 株価チャート
から 12 2023 まで 12 2024
