Update on Application for Admission of Shares

RNS Number : 0010D

Myanmar Strategic Holdings Ltd

24 June 2021

 

24 June 2021

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company")

Update on Application for Admission of Shares, Total Voting Rights and Notice of Results

Further to the announcement released on 14 April 2021, Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar and Vietnam, announces that application has today been made for 41,000 new ordinary shares in the Company (the "2020 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 2020 Bonus Shares will commence at 8.00 a.m. on 30 June 2021.

The 2020 Bonus Shares comprise the new ordinary shares issued by MSH in lieu of cash payments for all annual bonuses payable to the Company's senior employees and consultants relating to the financial period ended 30 September 2020.

The 2020 Bonus 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 2020 Bonus Shares represent 1.4 per cent. of the enlarged issued share capital of the Company.

Total Voting Rights

Following Admission the Company will have a total of 2,845,920 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.

Notice of Results

The Company announces that it expects to publish its half yearly report for the six months ended 31 March 2021 by 31 July 2021. The publication date utilises the permitted extension of up to one month to complete and announce half yearly reports, as per the latest guidance set out by the Financial Conduct Authority dated 27 January 2021.

For more information please visit  www.ms-holdings.com  or contact:

Myanmar Strategic Holdings Ltd. Richard Greer, Independent Non-Executive Chairman Enrico Cesenni, Founder and CEO	[e-mail] [e-mail]
Allenby Capital Limited (Broker) Nick Athanas Nick Naylor	[phone]
Yellow Jersey PR (Financial PR) Henry Wilkinson Matthew McHale	[phone]

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 September 2020, Wall Street English Myanmar served ca 2,000 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 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 1,500 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 2017-2020 (Source: Asian Development Bank). In 2021, Vietnam's annual GDP growth is expected to be 6.7% (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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