Myanmar Investments Intl Ltd Exercise of Warrants (4286W)
April 27 2016 - 2:00AM
UK Regulatory
TIDMMIL
RNS Number : 4286W
Myanmar Investments Intl Ltd
27 April 2016
27 April 2016
Myanmar Investments International Limited
(the "Company")
Exercise of Warrants
Myanmar Investments International Limited (AIM:MIL), the
AIM-quoted Myanmar focused investment company, today announces that
it has received notice of the exercise of 1,506 AIM-quoted
warrants, which trade under the TIDM:MILW (the "Warrants"). Each
Warrant allows the Warrant holder to subscribe for one ordinary
share of nil par value of the Company (the "Ordinary Shares").
The 1,506 Warrants were exercised during the 15 business day
period which commenced on 1 April 2016, following the quarter ended
31 March 2016, at a price of $0.75 per new Ordinary Share.
Application will be made to the London Stock Exchange for
admission of 1,506 Ordinary Shares to trading on AIM (the
"Admission") and it is expected that Admission will take place and
that trading will commence on AIM on or around 4 May 2016.
The issued share capital of the Company following the issue of
the new Ordinary Shares is 27,302,339 Ordinary Shares of nil par
value, with voting rights. The Company does not hold any Ordinary
Shares in Treasury. In addition, following the reduction of the
1,506 Warrants pursuant to the exercise, the Company will have
15,238,521 Warrants in issue.
Following Admission, the above figure of 27,302,339 Ordinary
Shares 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 Financial
Conduct Authority's Disclosure and Transparency Rules.
For further information please contact:
Aung Htun Michael Dean
Managing Director Finance Director
Myanmar Investments International Myanmar Investments International
Ltd Ltd
+66 81 836 5104 +65 82 99 98 98
+95 94 0160 0501 +95 94 2006 4957
aunghtun@myanmarinvestments.com mikedean@myanmarinvestments.com
Nominated Adviser Broker
Philip Secrett / Jamie Andrew Pinder / Josh Levy
Barklem/ / David Herring
Carolyn Sansom Alistair Roberts (Hong
Grant Thornton UK LLP Kong)
+44 20 7383 5100 Investec Bank plc
+44 (0) 20 7597 4000
Notes to Editors:
Myanmar Investments International Limited (the "Company") is the
first Myanmar focused investment company to be admitted to trading
in London and has been established for the purpose of investing in
businesses operating in or with business exposure to Myanmar. The
Company will target businesses operating in sectors that the
Directors believe have strong growth potential and thereby can be
expected to provide attractive yields, capital gains or both. In
addition to investing into local businesses the Company will also
partner with foreign companies investing in Myanmar.
In August 2014 the Company made its first investment in a
microfinance joint venture company as detailed in its announcements
on 26 August and 1 September 2014, and on 16 November 2015 it was
announced that Norfund became a 25% shareholder in the venture.
On 31 July 2015 the Company announced its investment in Apollo
Towers Pte Ltd, a telecommunication tower company.
Since its Admission in June 2013, when the Company raised US$6.1
million, it has since raised a further US$23.7 million.
The Company's primary objective is to build capital value over
the long term by making investments in a diversified portfolio of
Myanmar businesses that will benefit from Myanmar's
re-emergence.
Myanmar, a country of approximately 51.4 million people, has
been isolated for much of the last 50 years. Once one of the more
prosperous countries in Southeast Asia as it has an abundance of
natural resources (oil, natural gas, arable land, tourist
attractions and a long coastline), it is now one of the least
developed countries in the world and has been the subject of
sanctions imposed on it by the EU and the US, amongst others. The
vast majority of these sanctions have been lifted over the last few
years as Myanmar has re-joined the international diplomatic
community.
Following the general elections in Myanmar in November 2015 the
National League for Democracy, led by Daw Aung San Suu Kyi, won an
overwhelming majority of the seats and the new administration took
power on 1 April 2016.
Further information can be obtained from the Company's website:
www.myanmarinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEEAXLKAEKKEFF
(END) Dow Jones Newswires
April 27, 2016 02:00 ET (06:00 GMT)