26 Mar 2018 11:11
26 March 2018
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Further re. subscription to raise US$1.0 million
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar, one of the fastest growing economies in the world, is pleased to announce that it has received the US$1.0 million due in respect of the Subscription that was announced by the Company on 19 March 2018. The Subscription has now completed and the 50,000 Subscription Shares have been issued at a price of US$20 per share.
Application has been made 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 admissions will become effective and that dealings in the Subscription Shares will commence at 8.00 a.m. on 4 April 2018.
In accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority the Company's issued share capital, following the issue of the Subscription Shares, is a total of 2,317,133 ordinary shares of no par value. The Company does not hold any ordinary shares in treasury, therefore the total number of voting rights in the Company is 2,317,133.
The definitions used in this announcement have the same meaning as they have in the announcement released by the Company on 19 March 2018.
For more information please visit www.ms-holdings.com or contact:
Myanmar Strategic Holdings Ltd. Enrico Cesenni, Founder and CEO |
enrico@ms-holdings.com
|
Allenby Capital Limited (Broker) Nick Athanas Nick Naylor Nick Chambers
| +44 (0)20 3328 5656
|
Yellow Jersey PR (Financial PR) Georgia Colkin Joe Burgess Henry Wilkinson |
+44 (0) 7825 916 715 +44 (0) 7769 325254 +44 (0) 7951 402336 |
About Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and operator of consumer businesses located in Myanmar, one of the fastest growing economies in the world. Initially concentrating on Hospitality and Education, the Company intends to focus on the broader consumer sector in Myanmar as it grows.
The Company's earliest investments have been in the Hospitality sector - through its portfolio the Company manages over 474 beds across 4 boutique hostels in 3 core tourist locations across Myanmar operating under the award winning Ostello Bello budget hospitality brand. It operates an asset light strategy, entering into long-term operating and management agreements with local hostel owners.
Within its Education division, the Company currently has exclusive development and franchising agreements with Pearson for 10 Wall Street English language centres across Myanmar within the next 10 years. Two centres were opened in 2017, serving over 1,000 students as of February 2018.
Myanmar is currently the 4th fastest growing (as of March 2017) and one of the most promising economies within Asia Pacific. Its annual GDP growth is expected to stand at 8.0% in 2018 (Source: Asian Development Bank), making it one of the top 10 fastest growing economies in the world, whilst the number of middle class consumers in Myanmar is also expected to double by 2020.
Myanmar Strategic Holdings is well positioned to grant investors early exposure to Myanmar's strong economic fundamentals enhanced by ASEAN's wider growth prospects.