Myanmar Investments (LSE:MIL)
Historical Stock Chart

From Apr 2019 to Apr 2024

TIDMMIL

RNS Number : 6239Z

Myanmar Investments Intl Ltd

04 September 2018

4 September 2018

Myanmar Investments International Limited

Holdings in the Company

Myanmar Investments International Limited, the AIM listed Myanmar focused investment company, announces it was informed on 3 September 2018 that, pursuant to a private reorganization, Incagrove Limited's shareholding of 2,103,258 ordinary shares of no par value in the Company ("Ordinary Shares") have been transferred to two separate entities.

As a result Incagrove Limited now has no further interest in any Ordinary Shares but Chasophie Group Limited now holds 1,601,086 Ordinary Shares representing 4.3% of the Company's total issued ordinary share capital.

- Ends -

For further information please contact:

 
Craig Martin                         Michael Dean 
 Managing Director                    Finance Director 
 Myanmar Investments International    Myanmar Investments International 
 Limited                              Limited 
 +95 (0) 1 391 804                    +95 (0) 1 391 804 
 craigmartin@myanmarinvestments.com   mikedean@myanmarinvestments.com 
 
  Nominated Adviser                    Broker 
  Philip Secrett / Jamie Barklem       William Marle / Giles 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 to-date (US$21 million investment for a 9.0 per cent effective shareholding) is in Apollo Towers, Myanmar's second largest telecommunications towers company with 1,800 towers. Apollo operates in the high growth telecommunications 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, OPIC 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 ("Norfund"), 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) 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.

Myanmar, a country of approximately 54 million people and roughly the size of France, has been isolated for much of the last 50 years. Once it was 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.

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

HOLUGUQUBUPRGAW

(END) Dow Jones Newswires

September 04, 2018 02:01 ET (06:01 GMT)