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Civetta Capital to Buy Minority Stake in Myanmar Strategic Holdings
Thursday 13 August 2020

Myanmar-based consumer business developer and manager Myanmar Strategic Holdings Ltd. (LSE: SHWE) has exchanged contracts with Civetta Capital Ltd. to purchase 897,500 shares in Myanmar Investments International Ltd. at a price of USD 0.68 per MIL share for a total consideration of USD 610,305, the company said.

The proposed transaction is expected to complete by 31 October 2020.

MIL is an AIM quoted Myanmar-focused investment company with investments in the telecommunications and financial sectors comprising an indirect shareholding of 4.1% in AP Towers Holdings Pte. Ltd. and a 37.5% shareholding in Myanmar Finance International Ltd.

The consideration will comprise of cash of USD 457,725: USD 0.51 per MIL share; and MSH shares equivalent to USD 152,580: one newly issued MSH share for ca. 118 MIL shares for a total of 7,629 MSH shares (equivalent to ca. USD 0.17 per share based on an agreed issuance price of USD 20 per MSH share).

The cash element of the consideration will be settled from MSH's existing cash resources. Upon completion of the proposed transaction MSH is expected to have an interest in 2.4% of the issued share capital of MIL.

On completion of the proposed transaction the company will make an application for the consideration shares to be listed on the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange plc.

Myanmar Strategic Holdings Ltd. (LSE: SHWE) is an independent developer and manager of consumer businesses in Myanmar and Vietnam, two of the fastest growing economies in the world. The company's portfolio currently focuses on Education, Services and Hospitality with the view to expand within the broader consumer sector.
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Date Published: 13/08/2020

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