Myanmar Strategic Holdings Ltd Result of AGM (7615Z)

TIDMSHWE

RNS Number : 7615Z

Myanmar Strategic Holdings Ltd

05 September 2018

05 September 2018

Myanmar Strategic Holdings Ltd.

("MSH" or the "Company" or the "Group")

Result of AGM

Myanmar Strategic Holdings (LSE: SHWE), the independent developer and manager of consumer businesses located in Myanmar, is pleased to announce that at the Company's Annual General Meeting, held earlier today, all resolutions were duly passed.

For more information please visit www.ms-holdings.com or contact:

 
 Myanmar Strategic Holdings 
  Ltd.                                          [e-mail] 
  Enrico Cesenni, Founder and 
  CEO 
 Allenby Capital Limited (Broker) 
  Nick Athanas 
  Nick Naylor 
  Nicholas Chambers                           [phone] 
 Yellow Jersey PR (Financial 
  PR) 
  Georgia Colkin 
  Joe Burgess 
  Henry Wilkinson                             [phone] 
 

Notes to editors

Myanmar Strategic Holdings Ltd.

Myanmar Strategic Holdings Ltd. is an independent developer and manager of consumer-focused businesses located in Myanmar, one of the fastest growing economies in the world. The Company's portfolio currently focuses on Hospitality, Education and Services with the view to expand within the broader consumer sector in Myanmar as it grows.

Hospitality sector: through its portfolio the Company currently manages over 470 beds across 4 boutique hotels in 3 core tourist locations across Myanmar, operating under the award winning Ostello Bello budget hospitality brand. MSH operates an asset light strategy, entering into long-term operating and management agreements with local hotel owners.

Education sector: the Company currently has exclusive development and franchising agreements with Wall Street English for ten English language centres across Myanmar over the course of the ten-year agreement. Two centres were opened in 2017 and a third opened in August 2018. As at July 2018, they served over 1,200 students. Through the franchise MSH also partnered with the Directorate of Company Administration in Myanmar to provide English language courses to its civil servants. A third centre is scheduled for opening in August 2018.

The Company has a joint venture with Auston Institute of Management to develop and operate the Auston College Myanmar. The private school opened in May 2018 offering diplomas in Engineering Technology, Construction Project Management and Networking, Information Systems, and Security. English language learning is also provided by the Company's nearby Wall Street English centre.

Services sector: through its recent acquisition of EXERA, the Company now offers safety, security and cash in transit services. Founded in 2013, EXERA employs approx. 1,100 guards making it one of the largest safety and security operators in Myanmar.

Myanmar was one of the fastest growing economies in Asia in 2017 (Source: Asian Development Bank). In 2018, its annual GDP growth is expected to be about 8.0% (Source: Asian Development Bank), making it one of the fastest growing economies in the world.

MSH is well positioned to provide investors early exposure to Myanmar's strong economic fundamentals enhanced by ASEAN's wider growth prospects.

Wall Street English

Founded in Italy in 1972, acquired by Pearson in 2010 and currently owned by a private equity consortium, Wall Street English ("WSE") is one of the largest global English language learning franchises in the world. WSE currently serves over 180,000 students across 400 learning centres located in Asia, Europe, Latin America and the Middle East. Utilizing both company-owned and franchised centres, WSE has provided instruction to over 3 million people.

Under the Area Development Agreement, MSH acquired the exclusive rights to develop up to ten WSE centres over the course of ten years. While Wall Street English will licence the WSE brand and provide the related learning methodology and educational materials, MSH will be responsible for identifying suitable locations, fitting out the centres and managing day to day operations, amongst other owner responsibilities.

In November 2017, Pearson agreed to sell WSE to a consortium consisting of funds affiliated with Baring Private Equity Asia and CITIC Capital. The acquisition completed in March 2018.

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September 05, 2018 04:58 ET (08:58 GMT)