Myanmar Strategic - Issuance of Shares and Total Voting Rights

Asia Strategic Holdings

14/04/2021 07:00

RNS Number : 3644V

Myanmar Strategic Holdings Ltd

14 April 2021

 

14 April 2021

 

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company")

 

Issuance of Shares in lieu of bonuses and Total Voting Rights

 

Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent developer and operator of consumer businesses located in Myanmar and Vietnam, today announces that, in lieu of cash payments, all annual bonuses payable to the Company's senior employees and consultants relating to the financial period ended 30 September 2020 will be satisfied entirely through the issuance of new ordinary shares in the Company. The Company's results for the 18-month period to 30 September 2020 were published on 31 March 2021.

 

The Company's management acknowledges the performance and contributions of its employees and consultants during the period. In light of the strain on the financial resources imposed by the Covid-19 pandemic, all annual bonuses for the period will be paid entirely 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$246,000 to be satisfied through the issue of 41,000 new ordinary shares in the Company at a price of US$6 per share (being the Company's closing bid price as at 13 April 2021).

 

Admission and Total Voting Rights

Pursuant to the above, the Company has today issued 41,000 new ordinary shares (the "2020 Bonus Shares") of no par value to employees and consultants of the Group. A total of 26,000 new ordinary shares (representing 0.9% of the Company's existing issued share capital) were issued to certain directors and PDMRs of the company as follows:

 

Director / PDMR
2020 Bonus Shares issued
Enrico Cesenni, Chief Executive Officer
5,500
U Aung Myo Thein, Partner (non-board)
5,500
Jonathan Geoffrey Kolb, Chief Financial 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 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"). Admission is expected to occur by May 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
richardgreer@me.com
enrico@ms-holdings.com
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor
+44 (0)20 3328 5656
Yellow Jersey PR (Financial PR)
Henry Wilkinson
Matthew McHale
+44 (0) 7951 402 336

 

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 April 2020, Wall Street English Myanmar served over 4,000 students since its inception.

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 1,300 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 2017-2019 (Source: Asian Development Bank). In 2021, their annual GDP growth is expected to be respectively 6.0% and 6.3% (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. 

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

 

 https://ms-holdings.com/investor-relations/#  

 

1
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
Myanmar 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 Myanmar 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$6
5,500
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
14 April 2021
f)
Place of the transaction
Outside a trading venue

 

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
U Aung Myo Thein
2
Reason for the notification
a)
Position/status
Partner (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
Myanmar 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 Myanmar 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$6
5,500
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
14 April 2021
f)
Place of the transaction
Outside a trading venue

 

1
Details of the person discharging managerial responsibilities / person closely associated
a)
Name
Jonathan Geoffrey Kolb
2
Reason for the notification
a)
Position/status
Chief Financial Officer
b)
Initial notification /Amendment
Initial notification
3
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)
Name
Myanmar 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 Myanmar 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$6
15,000
d)
Aggregated information
n/a
- Aggregated volume
- Price
e)
Date of the transaction
14 April 2021
f)
Place of the transaction
Outside a trading venue

 

 

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