REG - Asia Strategic Ltd - Result of AGM and Directorate Change

Asia Strategic HoldingsAnnouncement

22/03/2023 11:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230322:nRSV8796Ta&default-theme=true

RNS Number : 8796T  Asia Strategic Holdings Limited   22 March 2023

 

22 March 2023

Asia Strategic Holdings Ltd.

("Asia Strategic" or the "Company")

Result of AGM and Directorate Change

Asia Strategic Holdings Ltd. (LSE: ASIA), the independent developer and
operator of consumer businesses located in emerging Asia, is pleased to
announce that at the Company's Annual General Meeting ("AGM"), held earlier
today, all resolutions were duly passed.

 

Further to the announcement released by the Company on 22 February 2023,
Dennis Yeo (Non-Executive Director) did not seek re-election as a director at
the AGM and as a result he has ceased to be a director of the Company with
immediate effect.

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 February 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 February 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/)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  RAGFLFSIVSIFFIV