REG - Asia Strategic Ltd - Issuance of Shares and Total Voting Rights

Asia Strategic HoldingsAnnouncement

01/02/2023 13:00

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RNS Number : 6185O  Asia Strategic Holdings Limited   01 February 2023

 

1 February 2023

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: ASIA), the independent developer and
operator of consumer businesses located in emerging Asia, announces today
that, in lieu of cash payments, annual bonuses payable to certain of the
Company's senior employees (including certain executive directors of the
Company) relating to the financial period ended 30 September 2022 will be
satisfied through the issuance of new ordinary shares in the Company, as
detailed in the Company's results for the 12-month period to 30 September
2022 published on 31 January 2023.

 

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, the Board agreed that certain annual bonuses
for the period will be paid 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$200,000 to be satisfied through the issue of 40,000 new ordinary
shares in the Company at a price of US$5 per share (being the Company's
closing bid price as at 31 January 2023).

 

Admission and Total Voting Rights

Pursuant to the above, the Company has today issued 40,000 new ordinary shares
(the "2022 Bonus Shares") of no-par value (representing 1.4% of the Company's
existing issued share capital) including to certain directors and PDMRs of the
Company as follows:

 

  Director / PDMR                                       2022 Bonus Shares issued
  Enrico Cesenni, Chief Executive Officer               20,000
  Alain Thibault, Chief Operating Officer (non-board)   15,000

 

Further information is set out in the PDMR disclosure tables below.

 

An application is expected to be made shortly for the 2022 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 2022 Bonus Shares will commence
at 8.00 a.m. on 10 February 2023.

 

Following Admission, the Company will have a total of 2,965,920 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
(http://www.asia-strategic.com/)  or contact:

 

 Asia Strategic Holdings Ltd.                                richard@asia-strategic.com

 Richard Greer, Independent Non-Executive Chairman           enrico@asia-strategic.com

 Enrico Cesenni (OSI), Founder and Chief Executive Officer

 Allenby Capital Limited (Broker)                            +44 (0)20 3328 5656

 Nick Athanas

 Nick Naylor

 Yellow Jersey PR (Financial PR)                             +44 (0)20 3004 9512

 Sarah Hollins

 Bessie Elliot

 

Notes to editors

 

Asia Strategic Holdings Ltd.

Asia Strategic Holdings Ltd. (LSE: ASIA) is an independent developer and
operator of consumer businesses in emerging Asia. The Company's portfolio
focuses on Education and Services with the view to expand within the broader
consumer sector and is located in Vietnam and Myanmar, two of the fastest
growing economies in the world over the last decade.

Education sector:  the Company operates a range of brands across English
language learning, tertiary education and K-12. As of September 2022, it
operated 14 schools (19 as of January 2023), serving over 7,500 students.

The Company currently has exclusive development and franchising agreements
with Wall Street English for up to ten English language centres
across Myanmar. As of September 2022, Wall Street English Myanmar served
over 3,100 students through 4 centres (5 as of January 2023).

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
3,800 students as of September 2022.

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. As of September 2022, Auston University served ca. 500 students.

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 was recognised as an official
International Baccalaureate Primary Years Programme ("IB PYP") school by
the International Baccalaureate Organization.

In April 2022, the Company entered into an exclusive franchising agreement
with Kids&Us for the development of English language schools for children
across Myanmar. The first two centres shall be opened in Yangon by June
2023.

In August 2022, the Company entered into an exclusive franchising agreement
with Kids&Us for the development of English language schools for children
across Vietnam. The first four centres are already operational in Ho Chi
Minh.

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.

Furthermore, the Company provides hospitality services, managing two boutique
hotels in core tourist locations in Myanmar, operating under the award
winning Ostello Bello budget hospitality brand. The Company 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 2023, Vietnam's and
Myanmar's annual GDP growth are expected to be 8.5% and 4.0% respectively
(Source: Asian Development Bank).

The Company is well positioned to provide investors early exposure
to Vietnam's and Myanmar's strong economic fundamentals enhanced
by ASEAN's wider growth prospects.

To receive news alerts on Asia Strategic Holdings please sign up here under
the 'RNS' header:

https://ms-holdings.com/investor-relations/#
(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 /Amendment                              Initial notification

 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 financial instrument, type of instrument  Ordinary shares of no par value each

      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$5                                 20,000

 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      1 February 2023

 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 /Amendment                              Initial notification

 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 financial instrument, type of instrument  Ordinary shares of no par value each

      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$5                 15,000

 d)   Aggregated information                                       n/a

      - Aggregated volume

      - Price

 e)   Date of the transaction                                      1 February 2023

 f)   Place of the transaction                                     Outside a trading venue

 

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