6 February 2023
Asia Strategic Holdings Ltd.
("Asia Strategic", the "Group" or the "Company")
Grant of Options
Asia Strategic Holdings Ltd. (LSE: ASIA), the independent developer and manager of consumer businesses located in emerging Asia, today announces that on 6 February 2023 the Company granted options over a total of 43,000 ordinary shares of no par value to employees of the Group under the Company's 2022 employee share option plan ("2022 ESOP").
The 43,000 share options, which represent 1.5% of the Company's issued share capital, included the granting of share options to a PDMR of the Company as follows:
| PDMR | Options granted |
| Jonathan Geoffrey Kolb, Chief Financial Officer (board position) | 33,000 |
All options are exercisable at a price of US$11 in accordance with the conditions of the 2022 ESOP and subject to the following time vesting conditions:
· First anniversary from grant date: 40% of the option.
· Second anniversary from grant date: Further 40% of the option.
· Third anniversary from grant date: Further 20% of the option.
Including this grant, total options granted to date (net of any options lapsed) amount to 371,500 equating to 12.5% of the Company's current issued share capital.
For more information, please visit www.asia-strategic.com or contact:
| Asia Strategic Holdings Ltd. Richard Greer, Independent Non-Executive Chairman Enrico Cesenni (OSI), Founder and Chief Executive Officer
|
enrico@asia-strategic.com
|
| 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 February 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 February 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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The notifications set out below are provided in accordance with the requirements of the EU Market Abuse Regulation.
| | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a)
| Name
| Jonathan Geoffrey Kolb | |||
| 2
| Reason for the notification
| ||||
| a)
| Position/status
| Chief Financial Officer (board position) | |||
| b)
| Initial notification /Amendment
| Initial notification | |||
| 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 financial instrument, type of instrument | Ordinary shares of no par value each | |||
| | | ||||
| Identification code | Identification code (ISIN) for Asia Strategic Holdings Limited ordinary shares: SG9999015747
| ||||
| | | ||||
| b)
| Nature of the transaction
| Grant of options | |||
| c)
| Price(s) and volume(s) | | | | |
| | | Price(s) | Volume(s) | | |
| | | US$11 | 33,000 | | |
| | | | | | |
| d)
| Aggregated information | n/a | |||
| | | ||||
| - Aggregated volume | | ||||
| | | ||||
| - Price | | ||||
| | | ||||
| e)
| Date of the transaction
| 6 February 2023 | |||
| f)
| Place of the transaction
| Outside a trading venue | |||
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