Myanmar Investments Intl Ltd Appointment of Corporate Broker (7326N)
May 11 2018 - 1:31AM
UK Regulatory
TIDMMIL
RNS Number : 7326N
Myanmar Investments Intl Ltd
11 May 2018
This announcement contains 11 May 2018
inside information
Myanmar Investments International Limited
Appointment of Corporate Broker
Myanmar Investments International Limited [AIM: MIL] ("MIL" or
the "Company"), the AIM-quoted Myanmar focused investment company,
is pleased to announce the appointment of finnCap Ltd as the
Company's corporate broker with immediate effect.
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
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 cost 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 ("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) 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.
Myanmar, a country of approximately 51.4 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.
The country has undergone an unprecedented transformational
reform process, initiated by U Thein Sein's Administration in 2011.
This is now continuing under the elected civilian administration
led by Daw Aung San Suu Kyi which came to power in April 2016 as a
result of the first democratic elections in 50 years. While the
process is still evolving, the new government has broad support and
significant progress has been made to the economic prospects of the
country.
In October 2016, the United States government lifted all
remaining sanctions against Myanmar and re-admitted the country
into its preferred tariff system.
For more information about MIL, please visit
www.myanmarinvestments.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
APPAMMRTMBMBBLP
(END) Dow Jones Newswires
May 11, 2018 02:00 ET (06:00 GMT)
Myanmar Investments (LSE:MIL)
Historical Stock Chart
From Apr 2024 to May 2024
Myanmar Investments (LSE:MIL)
Historical Stock Chart
From May 2023 to May 2024