TIDMASIA
RNS Number : 6185O
Asia Strategic Holdings Limited
01 February 2023
1 February 2023
Asia Strategic Holdings Ltd.
("Asia Strategic" or the "Company")
Issuance of Shares in lieu of bonuses and Total Voting
Rights
Asia Strategic Holdings Ltd. (LSE: ASIA), the independent
developer and operator of consumer businesses located in emerging
Asia, announces today that, in lieu of cash payments, annual
bonuses payable to certain of the Company's senior employees
(including certain executive directors of the Company) relating to
the financial period ended 30 September 2022 will be satisfied
through the issuance of new ordinary shares in the Company, as
detailed in the Company's results for the 12-month period to 30
September 2022 published on 31 January 2023.
The Company's management acknowledges the performance and
contributions of its employees during the period. Considering the
strain on financial resources imposed by the Covid-19 pandemic, the
Board agreed that certain annual bonuses for the period will be
paid through the issuance of new shares in the Company.
Taking into consideration the recommendations of the
Remuneration Committee of the Company, the Directors propose annual
bonuses for a cumulative value of US$200,000 to be satisfied
through the issue of 40,000 new ordinary shares in the Company at a
price of US$5 per share (being the Company's closing bid price as
at 31 January 2023).
Admission and Total Voting Rights
Pursuant to the above, the Company has today issued 40,000 new
ordinary shares (the "2022 Bonus Shares") of no-par value
(representing 1.4% of the Company's existing issued share capital)
including to certain directors and PDMRs of the Company as
follows:
Director / PDMR 2022 Bonus Shares
issued
Enrico Cesenni, Chief Executive Officer 20,000
Alain Thibault, Chief Operating Officer
(non-board) 15,000
Further information is set out in the PDMR disclosure tables
below.
An application is expected to be made shortly for the 2022 Bonus
Shares to be listed on the standard segment of the Official List of
the UK Listing Authority and admitted to trading on the London
Stock Exchange's main market for listed securities ("Admission").
It is expected that Admission will become effective and that
dealings in the 2022 Bonus Shares will commence at 8.00 a.m. on 10
February 2023.
Following Admission, the Company will have a total of 2,965,920
ordinary shares in issue. The above figure may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or change to their interest in, the share capital of
the Company under the FCA's Disclosure and Transparency Rules.
For more information, please visit www.asia-strategic.com or
contact:
Asia Strategic Holdings Ltd.
Richard Greer, Independent Non-Executive richard@asia-strategic.com
Chairman enrico@asia-strategic.com
Enrico Cesenni (OSI), Founder
and Chief Executive Officer
Allenby Capital Limited (Broker)
Nick Athanas
Nick Naylor +44 (0)20 3328 5656
Yellow Jersey PR (Financial
PR)
Sarah Hollins
Bessie Elliot +44 (0)20 3004 9512
Notes to editors
Asia Strategic Holdings Ltd.
Asia Strategic Holdings Ltd. (LSE: ASIA) is an independent
developer and operator of consumer businesses in emerging Asia. The
Company's portfolio focuses on Education and Services with the view
to expand within the broader consumer sector and is located in
Vietnam and Myanmar, two of the fastest growing economies in the
world over the last decade.
Education sector: the Company operates a range of brands across
English language learning, tertiary education and K-12. As of
September 2022, it operated 14 schools (19 as of January 2023),
serving over 7,500 students.
The Company currently has exclusive development and franchising
agreements with Wall Street English for up to ten English language
centres across Myanmar. As of September 2022, Wall Street English
Myanmar served over 3,100 students through 4 centres (5 as of
January 2023).
In July 2020, the Company completed the acquisition of the Wall
Street English business in Vietnam. Founded in 2013, the WSE
Vietnam business operates through seven centres in Ho Chi Minh and
Binh Dhuong serving over 3,800 students as of September 2022.
The Company also operates 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, Mechanical Engineering and Networking,
Information Systems, and Security. English language learning is
also provided by the Company's nearby Wall Street English centre.
In February 2020, the Company announced a partnership with
Liverpool John Moores University to provide high quality
engineering training programmes for young, working professionals in
Myanmar, to be taught by Auston College Myanmar's teaching staff at
its Junction Square complex in Yangon. As of September 2022, Auston
University served ca. 500 students.
In August 2019 the Company launched its first private K-12
international school, the Yangon American International School
("Yangon American") in Yangon. In July 2021 Yangon American was
recognised as an official International Baccalaureate Primary Years
Programme ("IB PYP") school by the International Baccalaureate
Organization.
In April 2022, the Company entered into an exclusive franchising
agreement with Kids&Us for the development of English language
schools for children across Myanmar. The first two centres shall be
opened in Yangon by June 2023.
In August 2022, the Company entered into an exclusive
franchising agreement with Kids&Us for the development of
English language schools for children across Vietnam. The first
four centres are already operational in Ho Chi Minh.
Services sector: through its acquisition of EXERA, the Company
offers security, risk management and secure logistics services,
including cash-in-transit. Founded in 2013, EXERA employs
approximately 1,600 well-trained and high-quality security officers
making it one of the largest security services providers in
Myanmar.
Furthermore, the Company provides hospitality services, managing
two boutique hotels in core tourist locations in Myanmar, operating
under the award winning Ostello Bello budget hospitality brand. The
Company operates an asset light strategy, entering into long-term
operating and management agreements with local hotel owners.
Vietnam and Myanmar were among the fastest growing economies in
Asia in 2017-2020 (Source: Asian Development Bank). In 2023,
Vietnam's and Myanmar's annual GDP growth are expected to be 8.5%
and 4.0% respectively (Source: Asian Development Bank).
The Company is well positioned to provide investors early
exposure to Vietnam's and Myanmar's strong economic fundamentals
enhanced by ASEAN's wider growth prospects.
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here under the 'RNS' header:
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Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Enrico Cesenni
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Asia Strategic Holdings Limited
--------------------------------------- -------------------------------------------
b) LEI 213800V5GJPLFU4F6636
--------------------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value each
financial instrument,
type of instrument
Identification code Identification code (ISIN) for Asia
Strategic Holdings Limited ordinary
shares: SG9999015747
b) Nature of the transaction Issue of shares in lieu of bonuses
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
US$5 20,000
---------------------------------------------------------------- -------------------
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 1 February 2023
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Alain Thibault
--------------------------------------- -------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------------
a) Position/status Chief Operating Officer (non-board
position)
--------------------------------------- -------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- -------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a) Name Asia Strategic Holdings Limited
--------------------------------------- -------------------------------------------
b) LEI 213800V5GJPLFU4F6636
--------------------------------------- -------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
------------------------------------------------------------------------------------
a) Description of the Ordinary shares of no par value each
financial instrument,
type of instrument
Identification code Identification code (ISIN) for Asia
Strategic Holdings Limited ordinary
shares: SG9999015747
b) Nature of the transaction Issue of shares in lieu of bonuses
--------------------------------------- -------------------------------------------
c) Price(s) and volume(s)
------------------- -------------------
Price(s) Volume(s)
------------------- -------------------
US$5 15,000
---------------------------------------------------------------- -------------------
d) Aggregated information n/a
- Aggregated volume
- Price
e) Date of the transaction 1 February 2023
--------------------------------------- -------------------------------------------
f) Place of the transaction Outside a trading venue
--------------------------------------- -------------------------------------------
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END
IOETBMTTMTAMBJJ
(END) Dow Jones Newswires
February 01, 2023 07:56 ET (12:56 GMT)
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