Myanmar Investments Intl Ltd Exercise of Warrants (4286W)

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 
 [phone]                     [phone] 
 [phone]                    [phone] 
 [e-mail]     [e-mail] 
 
  Nominated Adviser                   Broker 
  Philip Secrett / Jamie              Andrew Pinder / Josh Levy 
  Barklem/                            / David Herring 
  Carolyn Sansom                      Alistair Roberts (Hong 
  Grant Thornton UK LLP               Kong) 
  [phone]                    Investec Bank plc 
                                      [phone] 
 

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

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April 27, 2016 02:00 ET (06:00 GMT)