REG - Asia Strategic Ltd - Issuance of Shares and Total Voting Rights
13/12/2021 15:00
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RNS Number : 4790V Asia Strategic Holdings Limited 13 December 2021
13 December 2021
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: SHWE), the independent developer and
operator of consumer businesses located in emerging South-East Asia, today
announces that, in lieu of cash payments, all annual bonuses payable to the
Company's senior employees (including certain executive directors of the
Company) relating to the financial period ended 30 September 2021 will be
satisfied entirely through the issuance of new ordinary shares in the Company.
The Company's results for the 12-month period to 30 September 2021 will be
published by 31 January 2022.
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, 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$640,000 to be satisfied through the issue of 80,000 new ordinary
shares in the Company at a price of US$8 per share (being the Company's
closing bid price as at 10 December 2021).
Admission and Total Voting Rights
Pursuant to the above, the Company has today issued 80,000 new ordinary shares
(the "2021 Bonus Shares") of no-par value (representing 2.7% of the Company's
existing issued share capital) to certain directors and PDMRs of the Company
as follows:
Director / PDMR 2021 Bonus Shares issued
Enrico Cesenni, Chief Executive Officer 10,000
Jonathan Geoffrey Kolb, Chief Financial Officer 30,000
Alain Thibault, Chief Operating Officer (non-board) 40,000
Further information is set out in the PDMR disclosure tables below.
An application is expected to be made shortly for the 2021 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 2021 Bonus Shares will commence at
8.00 a.m. on 20 December 2021.
Following Admission, the Company will have a total of 2,925,920 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 (mailto:enrico@ms-holdings.com)
Enrico Cesenni, Founder and Chief Executive Officer
Allenby Capital Limited (Broker) +44 (0)20 3328 5656
Nick Athanas
Nick Naylor
Freddie Wooding
Yellow Jersey PR (Financial PR) +44 (0) 7951 402 336
Henry Wilkinson
Matthew McHale
Notes to editors
Asia Strategic Holdings Ltd.
Asia Strategic Holdings Ltd. (LSE: SHWE) is an independent developer and
manager of consumer businesses in Vietnam and Myanmar, two of the fastest
growing economies in the world over the last decade. 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 a ten-year agreement. Two centres
were opened in 2017, a third in August 2018, and a fourth in February 2020. As
of September 2021, Wall Street English Myanmar served ca 1,300 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 ca. 2,600
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.
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 has been recognised as an official
International Baccalaureate Primary Years Programme ("IB PYP") school by the
International Baccalaureate Organization.
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.
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.
Vietnam and Myanmar were among the fastest growing economies in Asia in
2017-2020 (Source: Asian Development Bank). In 2021 and 2022, Vietnam's annual
GDP growth is expected to be 3.8% and 6.5% respectively (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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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$8 10,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 2021
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$8 40,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 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 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$8 30,000
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 13 December 2021
f) Place of the transaction Outside a trading venue
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