TIDMSHWE
RNS Number : 4790V
Asia Strategic Holdings Limited
13 December 2021
13 December 2021
Asia Strategic Holdings Ltd.
("Asia Strategic" or the "Company")
Issuance of Shares in lieu of bonuses and Total Voting
Rights
Asia Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses located in emerging
South-East Asia, today announces that, in lieu of cash payments,
all annual bonuses payable to the Company's senior employees
(including certain executive directors of the Company) relating to
the financial period ended 30 September 2021 will be satisfied
entirely through the issuance of new ordinary shares in the
Company. The Company's results for the 12-month period to 30
September 2021 will be published by 31 January 2022.
The Company's management acknowledges the performance and
contributions of its employees during the period. Considering the
strain on financial resources imposed by the Covid-19 pandemic, all
annual bonuses for the period will be paid entirely through the
issuance of new shares in the Company.
Taking into consideration the recommendations of the
Remuneration Committee of the Company, the Directors propose annual
bonuses for a cumulative value of US$640,000 to be satisfied
through the issue of 80,000 new ordinary shares in the Company at a
price of US$8 per share (being the Company's closing bid price as
at 10 December 2021).
Admission and Total Voting Rights
Pursuant to the above, the Company has today issued 80,000 new
ordinary shares (the "2021 Bonus Shares") of no-par value
(representing 2.7% of the Company's existing issued share capital)
to certain directors and PDMRs of the Company as follows:
Director / PDMR 2021 Bonus Shares issued
Enrico Cesenni, Chief Executive Officer 10,000
Jonathan Geoffrey Kolb, Chief Financial
Officer 30,000
Alain Thibault, Chief Operating Officer
(non-board) 40,000
Further information is set out in the PDMR disclosure tables
below.
An application is expected to be made shortly for the 2021 Bonus
Shares to be listed on the standard segment of the Official List of
the UK Listing Authority and admitted to trading on the London
Stock Exchange's main market for listed securities ("Admission").
It is expected that Admission will become effective and that
dealings in the 2021 Bonus Shares will commence at 8.00 a.m. on 20
December 2021.
Following Admission, the Company will have a total of 2,925,920
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.asia-strategic.com or contact:
Asia Strategic Holdings Ltd.
Richard Greer, Independent Non-Executive richard@asia-strategic.com
Chairman enrico@asia-strategic.com
Enrico Cesenni, Founder and Chief Executive
Officer
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor
Freddie Wooding +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.
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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here under the 'RNS' header:
https://ms-holdings.com/investor-relations/#
Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Enrico Cesenni
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Asia Strategic Holdings Limited
--------------------------------------- -------------------------------------------
b) LEI 213800V5GJPLFU4F6636
--------------------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value each
financial instrument,
type of instrument
Identification code Identification code (ISIN) for Asia
Strategic Holdings Limited ordinary
shares: SG9999015747
b) Nature of the transaction Issue of shares in lieu of bonuses
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
US$8 10,000
---------------------------------------------------------------- -------------------
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 2021
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alain Thibault
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer (non-board
position)
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Asia Strategic Holdings Limited
--------------------------------------- -------------------------------------------
b) LEI 213800V5GJPLFU4F6636
--------------------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value each
financial instrument,
type of instrument
Identification code Identification code (ISIN) for Asia
Strategic Holdings Limited ordinary
shares: SG9999015747
b) Nature of the transaction Issue of shares in lieu of bonuses
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
US$8 40,000
---------------------------------------------------------------- -------------------
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 2021
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jonathan Geoffrey Kolb
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Asia Strategic Holdings Limited
--------------------------------------- -------------------------------------------
b) LEI 213800V5GJPLFU4F6636
--------------------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value each
financial instrument,
type of instrument
Identification code Identification code (ISIN) for Asia
Strategic Holdings Limited ordinary
shares: SG9999015747
b) Nature of the transaction Issue of shares in lieu of bonuses
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
US$8 30,000
---------------------------------------------------------------- -------------------
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 2021
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
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END
MSCTJBITMTABBAB
(END) Dow Jones Newswires
December 13, 2021 09:59 ET (14:59 GMT)
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