Memories Group Acquires a Portfolio of Assets Including an Island in Myanmar’s Mergui Archipelago

  • Acquiring development rights over 5,100-acres islands, a 24-villa five-star hotel and a 72room three-star hotel
  • The combined purchase price of US$40.7 million will be funded by cash and issuance of new shares
  • The new shares will be issued at a significant premium of 16.9% over the last traded weighted average price
  • Memories Group’s Integrated Tourism Platform now covers seven of Myanmar’s major tourist destinations

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