Myanmar Investments

Exercise of Warrants

RNS Number : 6557S
Myanmar Investments Intl Ltd
26 June 2018
 


26 June 2018

 

Myanmar Investments International Limited

 

Exercise of Warrants

 

Myanmar Investments International Limited [AIM: MIL] ("MIL" or the "Company"), the AIM-quoted, Myanmar focused investment company, today announces that it has received notice of the exercise of 202,905 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 202,905 Warrants were exercised during the period which ended on 21 June 2018, at a price of $0.75 per new Ordinary Share.

Total Voting Rights

Application will be made to the London Stock Exchange for admission of 202,905 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 2 July 2018.

The issued share capital of the Company following the issue of the new Ordinary Shares will be 37,635,196 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 202,905 Warrants pursuant to the exercise, the Company will have 15,143,602 Warrants in issue.

Following Admission, the above figure of 37,635,196 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 Guidance and Transparency Rules.

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For further information please contact:

 

Craig Martin

Managing Director

Myanmar Investments International Ltd

+95 (0) 1 391 804

[email protected] 

Michael Dean

Finance Director

Myanmar Investments International Ltd

+95 (0) 1 391 804

[email protected]

 

Nominated Adviser

Philip Secrett / Jamie Barklem

Grant Thornton UK LLP

+44 (0) 20 7383 5100

 

Broker

William Marle / Giles Rolls

finnCap Ltd

+44 (0) 20 7220 0500



 

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

 



 

Notes to Editors:

 

Myanmar Investments International Limited (AIM: MIL) was the first Myanmar-focused investment company to be admitted to trading on the AIM market of the London Stock Exchange.  MIL was established in 2013 with the intention of building long term shareholder value by proactively investing in a diversified portfolio of Myanmar businesses that will benefit from the country's re-emergence and ongoing economic development. The Company is led by an experienced and entrepreneurial team who between them have considerable industrial, corporate and financial management experience.

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 MIL's management board.  The Company's main focus is on opportunities that are experiencing acute supply and demand imbalances.

 

MIL provides investors with a highly disciplined and conservative investment process into one of the most promising growth opportunities of this era.

 

MIL's largest investment (US$21 million investment for a 9.3 per cent. shareholding) is in Apollo Towers, one of Myanmar's top telecom towers companies with 1,800 towers. Apollo operates in the high growth telecom sector with a strong management that is growing the number of co-locations (i.e. multiple tenancies) on its portfolio of towers. In June 2016, the US Government's Overseas Private Investment Corporation provided a US$250 million debt facility to Apollo Towers.

 

MIL's first investment in August 2014 was into Myanmar Finance International Limited ("MFIL") which today is one of the leading microfinance companies in Myanmar. Since MIL invested, MFIL's business has expanded rapidly. The business is profitable with a sustainable expansion plan for long term growth. In November 2015, the Norwegian Government's Norwegian Investment Fund for Developing Countries, the Norwegian development finance institution, also became a 25 per cent. shareholder in MFIL.

 

MIL's third investment in May 2017 was into Medicare International Health and Beauty Pte Ltd, ("Medicare"). This was a greenfield pharmacy, healthcare and personal care product retail franchise joint venture. The joint venture partners are H&B Management Solutions Pte. Ltd., which owns Medicare Vietnam, one of the largest pharmacy, health, beauty and personal care retail group that runs over 70 outlets in Vietnam; and Randy Guttery, an industry veteran with significant experience leading Asian-based retail concepts. It is expected that Medicare will fill a vacuum in the present retail landscape and at the same time tap into the rapid growth of the middle and affluent classes in Myanmar.

 

 


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