Myanmar Strategic Holdings Ltd Result of AGM (7615Z)
September 05 2018 - 3:58AM
UK Regulatory
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. enrico@ms-holdings.com
Enrico Cesenni, Founder and
CEO
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor
Nicholas Chambers +44 (0)20 3328 5656
Yellow Jersey PR (Financial
PR)
Georgia Colkin
Joe Burgess
Henry Wilkinson +44 (0) 7769 325254
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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END
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