Exercise of Warrants

RNS Number : 5836F

Myanmar Investments Intl Ltd

28 July 2016

 

28 July 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 5,841 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 5,841 Warrants were exercised during the 15 business day period which commenced on 1 July 2016, following the quarter ended 30 June 2016, at a price of $0.75 per new Ordinary Share.

Application will be made to the London Stock Exchange for admission of 5,841 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 3 August 2016.

The issued share capital of the Company following the issue of the new Ordinary Shares is 27,308,180 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 5,841 Warrants pursuant to the exercise, the Company will have 15,232,680 Warrants in issue.

Following Admission, the above figure of 27,308,180 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 Managing Director Myanmar Investments International Ltd [phone] [phone] [e-mail]	Michael Dean Finance Director Myanmar Investments International Ltd [phone] [phone] [e-mail]
Nominated Adviser Philip Secrett / Jamie Barklem/ Carolyn Sansom Grant Thornton UK LLP [phone]	Broker Andrew Pinder / Josh Levy / David Herring Alistair Roberts (Hong Kong) Investec Bank plc [phone]

Notes to Editors:

Myanmar Investments International Limited ("MIL") is the first Myanmar-focused investment company to be admitted to trading on the AIM market of the London Stock Exchange. It was established in 2013 to act as a conduit for overseas investors to invest in businesses led by dynamic and visionary Myanmar entrepreneurs and foreign companies investing in the country. MIL is led by co-founders Aung Htun and Mike Dean, private equity professionals and entrepreneurs with a strong regional track record of investment and profitable exits in SE Asia. 

MIL aims to identify investments with strong growth which if necessary can be "de-risked" through the introduction of experienced senior line-management, mentors and/or strategic partners sourced by its Founders.  Key sectors are those experiencing acute supply vs. demand imbalances, such as consumer and other capacity-constrained sectors.

To date, MIL has invested in Apollo Towers, a top 3 telecom towers company with 1,800 towers, and MFIL, a top 10 microfinance company whose loan book has grown over 400% since investment.  With its strong proprietary investment pipeline of deals, MIL provides investors with a highly disciplined and conservative investment process into one of the most promising growth opportunities of this era.

Myanmar, a country of approximately 51.4 million people and roughly the size of France, 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.

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.

For more information about MIL, please visit www.myanmarinvestments.com 

 

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