17 May 2016 07:00
17 May 2016
Myanmar Investments International Limited
(the "Company")
Directorate Change
Myanmar Investments International Limited, the AIM-traded investment company focussing on investing in Myanmar, is pleased to announce the appointment of Henrik Bodenstab as an independent Non-Executive Director to the board of the Company, with immediate effect.
Henrik Onne Bodenstab, aged 47, is currently a partner of Trilantic Europe which he joined in April 2011. Prior to this Henrik was managing partner at the Wunsche Group of companies in Hamburg, a diversified group of companies focusing on international trade and shipping. Henrik was founder and Managing Director of Globaltronics, (part of the Wunsche Group) which developed consumer electronic products, including white and brown goods. Prior to that, Henrik worked as a case leader at The Boston Consulting Group, covering financial services, wholesale, construction and real estate.
Over the past 20 years Henrik Bodenstab has gained broad experience by living and working extensively in Asia, the US as well as in Europe. Henrik is Chairman of the Board of Meridian 10 Holding AG, is on the Advisory Board of Prettl SWH GmbH and a Director of Hansabay Pte Ltd, a shareholder of the Company. Henrik holds a BA in Economics and Political Science from the University of Michigan as well as an MBA from the Harvard Business School.
William Knight, Chairman of the Company, said "We are delighted that Henrik has agreed to join us as an independent non-executive director on MIL's Board complementing our existing strength and bringing to it an added dimension through his business background, connections and experience."
The following is the information required by Schedule 2 (g) of the AIM Rules for Companies.
Current Directorships and Partnerships | Directorships and Partnerships held in the last 5 years |
SWH International Holding GmbH | Hanseatic Europe S.à.r.l. |
Hansabay Pte Ltd | |
Harbor Springs Verwaltungs GmbH | |
Meridian 10 Holding AG | |
Prettl SWH | |
Trilantic Capital Management LLC |
Henrik has the following interest in the Company:
Ordinary Shares | Warrants | Percentage of total issued share capital in respect of the ordinary shares (%) | Percentage of total issued share capital in respect of the Warrants (%) |
543,477 | 181,159 | 1.99 | 1.19 |
For further information please contact:
Myanmar Investments International Limited | ||
Aung Htun, Managing Director
| +95 94 0160 0501 +66 81 836 5104 aunghtun@myanmarinvestments.com | |
Michael Dean, Finance Director | +95 94 2006 4957 +65 82 99 98 98 mikedean@myanmarinvestments.com | |
Investec Bank plc (Corporate Broker) | +44 (0) 20 7597 4000 |
Andrew Pinder | |
Josh Levy Alistair Roberts (Hong Kong) |
Grant Thornton UK LLP (NOMAD) | +44 (0) 20 7383 5100 |
Philip Secrett Jamie Barklem Carolyn Sansom |
Notes to Editors:
Myanmar Investments International Limited (the "Company") is the first Myanmar focused investment company to be admitted to trading in London and has been established for the purpose of investing in businesses operating in or with business exposure to Myanmar. The Company will target businesses operating in sectors that the Directors believe have strong growth potential and thereby can be expected to provide attractive yields, capital gains or both. In addition to investing into local businesses the Company will also partner with foreign companies investing in Myanmar.
In August 2014 the Company made its first investment in a microfinance joint venture company as detailed in its announcements on 26 August and 1 September 2014, and on 16 November 2015 it was announced that Norfund became a 25% shareholder in the venture.
On 31 July 2015 the Company announced its investment in Apollo Towers Pte Ltd, a telecommunication tower company.
Since its Admission in June 2013, when the Company raised US$6.1 million, it has since raised a further US$23.7 million.
The Company's primary objective is to build capital value over the long term by making investments in a diversified portfolio of Myanmar businesses that will benefit from Myanmar's re-emergence.
Myanmar, a country of approximately 51.4 million people, has been isolated for much of the last 50 years. Once one of the more prosperous countries in Southeast Asia as it has an abundance of natural resources (oil, natural gas, arable land, tourist attractions and a long coastline), it is now one of the least developed countries in the world and has been the subject of sanctions imposed on it by the EU and the US, amongst others. The vast majority of these sanctions have been lifted over the last few years as Myanmar has re-joined the international diplomatic community.
Following the general elections in Myanmar in November 2015 the National League for Democracy, led by Daw Aung San Suu Kyi, won an overwhelming majority of the seats and the new administration took power on 1 April 2016.
Further information can be obtained from the Company's website: www.myanmarinvestments.com