Myanmar Strategic Holdings Ltd Further re. subscription to raise US$1.0 million (9211I)
March 26 2018 - 6:11AM
UK Regulatory
TIDMSHWE
RNS Number : 9211I
Myanmar Strategic Holdings Ltd
26 March 2018
26 March 2018
Myanmar Strategic Holdings Ltd.
("MSH" or the "Company" or the "Group")
Further re. subscription to raise US$1.0 million
Myanmar Strategic Holdings Ltd. (LSE: SHWE), the independent
developer and operator of consumer businesses located in Myanmar,
one of the fastest growing economies in the world, is pleased to
announce that it has received the US$1.0 million due in respect of
the Subscription that was announced by the Company on 19 March
2018. The Subscription has now completed and the 50,000
Subscription Shares have been issued at a price of US$20 per
share.
Application has been made for the Subscription Shares to be
listed on the standard segment of the Official List and to be
admitted to trading on the London Stock Exchange's main market for
listed securities. It is expected that such admissions will become
effective and that dealings in the Subscription Shares will
commence at 8.00 a.m. on 4 April 2018.
In accordance with the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority the Company's issued share
capital, following the issue of the Subscription Shares, is a total
of 2,317,133 ordinary shares of no par value. The Company does not
hold any ordinary shares in treasury, therefore the total number of
voting rights in the Company is 2,317,133.
The definitions used in this announcement have the same meaning
as they have in the announcement released by the Company on 19
March 2018.
For more information please visit www.ms-holdings.com or
contact:
Myanmar Strategic Holdings
Ltd. enrico@ms-holdings.com
Enrico Cesenni, Founder
and CEO
Allenby Capital Limited
(Broker)
Nick Athanas
Nick Naylor
Nick Chambers +44 (0)20 3328 5656
Yellow Jersey PR (Financial
PR)
Georgia Colkin +44 (0) 7825 916 715
Joe Burgess +44 (0) 7769 325254
Henry Wilkinson +44 (0) 7951 402336
About Myanmar Strategic Holdings Ltd.
Myanmar Strategic Holdings Ltd. is an independent developer and
operator of consumer businesses located in Myanmar, one of the
fastest growing economies in the world. Initially concentrating on
Hospitality and Education, the Company intends to focus on the
broader consumer sector in Myanmar as it grows.
The Company's earliest investments have been in the Hospitality
sector - through its portfolio the Company manages over 474 beds
across 4 boutique hostels in 3 core tourist locations across
Myanmar operating under the award winning Ostello Bello budget
hospitality brand. It operates an asset light strategy, entering
into long-term operating and management agreements with local
hostel owners.
Within its Education division, the Company currently has
exclusive development and franchising agreements with Pearson for
10 Wall Street English language centres across Myanmar within the
next 10 years. Two centres were opened in 2017, serving over 1,000
students as of February 2018.
Myanmar is currently the 4(th) fastest growing (as of March
2017) and one of the most promising economies within Asia Pacific.
Its annual GDP growth is expected to stand at 8.0% in 2018 (Source:
Asian Development Bank), making it one of the top 10 fastest
growing economies in the world, whilst the number of middle class
consumers in Myanmar is also expected to double by 2020.
Myanmar Strategic Holdings is well positioned to grant investors
early exposure to Myanmar's strong economic fundamentals enhanced
by ASEAN's wider growth prospects.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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