Myanmar Investments Intl Ltd Results of General and Warrantholders Meetings (7981O)
22 May 2018 - 8:43PM
UK Regulatory
TIDMMIL
RNS Number : 7981O
Myanmar Investments Intl Ltd
22 May 2018
This announcement contains 22 May 2018
inside information
Myanmar Investments International Limited
Results of General and Warrantholders Meetings
Myanmar Investments International Limited ("MIL" or the
"Company"), the AIM-quoted Myanmar focused investment company,
announces that at the meetings of Shareholders and Warrantholders
held yesterday all of the resolutions were duly passed.
As a result the terms of the Company's existing Warrants will be
amended as follows:
1) the Warrants can be exercised at US$0.75 on or before 21 June
2018, in line with their original terms; and
2) in relation to any Warrants that remain outstanding at 21 June 2018:
a) the exercise period for the Warrants will be automatically
extended such that the Warrants can be exercised until 31 December
2021, but at a higher exercise price of US$0.90; and
b) in the extended period, Warrantholders will have the option
to exercise their Warrants on a cashless basis in certain
circumstances.
The Warrants continue to be tradable on AIM.
Further details of the proposed changes are set out in the
Company's notice of General Meeting and notice of meeting of the
Warrantholders which was issued on 30 April 2018 and is available
on the Company's website at www. myanmarinvestments.com.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information please contact:
Aung Htun Michael Dean
Managing Director Finance Director
Myanmar Investments International Myanmar Investments International
Ltd Ltd
+95 (0) 1 391 804 +95 (0) 1 391 804
aunghtun@myanmarinvestments.com mikedean@myanmarinvestments.com
Nominated Adviser Broker
Philip Secrett / Jamie William Marle / Giles
Barklem Rolls
Grant Thornton UK LLP finnCap Ltd
+44 (0) 20 7383 5100 +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: a) 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 b) Randall Steve 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.
For more information about MIL, please visit
www.myanmarinvestments.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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