Grant of Employee Share Options

RNS Number : 0321M

Myanmar Investments Intl Ltd

15 January 2016

 

15 January 2016

Myanmar Investments International Limited

Grant of Employee Share Options

Myanmar Investments International Limited (the "Company"), an AIM-traded, investment company focussing on investing in Myanmar, announces that it has today granted 1,301,500 share options over the Company's ordinary shares ("Share Options").

Share Options have been granted as follows:

	Pre-Grant Share Options	Share Options Granted			Post-Grant Share Options
		Series 1 Exercise Price: $1.100	Series 2 Exercise Price: $1.155	Series 3 Exercise Price: $1.265
William Knight	20,000	-	-	100,000	120,000
Aung Htun	242,000	-	180,000	320,000	742,000
Michael Dean	198,000	-	140,000	320,000	658,000
Craig Martin	30,000	-	-	100,000	130,000
Chris Appleton	40,000	-	-	100,000	140,000
Employees	74,061	10,200	11,700	19,600	115,561
Total	604,061	10,200	331,700	959,600	1,905,561

Of the Pre-Grant Share Options, 30,000 were granted from Series 2 while the remainder were granted from Series 1.  The Share Options have been granted in accordance with the terms of the Company's Share Option plan, more details of which are set out in the Company's Admission Document and Annual Report.

These Share Options can be exercised at any time after the first anniversary and any time up to the tenth anniversary of the grant of the Share Options.

Following this grant of shares the balance of share options that are available for grant is 774,521.

For further information please contact:

Aung Htun Managing Director Myanmar Investments International Ltd [phone] [phone] [e-mail]	Michael Dean Finance Director Myanmar Investments International Ltd [phone] [phone] [e-mail]
Nominated Adviser Philip Secrett /  Jamie Barklem / Carolyn Sansom Grant Thornton UK LLP [phone]	Broker Nick Naylor / Chris Crawford / Alex Brearley Allenby Capital Limited [phone]

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 and roughly the size of France, 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.

General elections were held in Myanmar on 8 November 2015. Amidst much scrutiny by the international community, the elections took place largely without incident, and official results show the National League for Democracy (the "NLD"), led by Daw Aung San Suu Kyi, will hold a controlling majority of the seats in the next parliament. The current ruling party, Union Solidarity and Development Party (the "USDP"), has accepted the results of the election and together with the military is in discussion with Daw Aung San Suu Kyi for the transfer of power. The new administration is scheduled to take effect from 1 April 2016.

Further information can be obtained from the Company's website www.myanmarinvestments.com.

 

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