Memories Group Takes Stake in Three Iconic Yangon Hotels and a Boat Cruise

• The shares purchase agreement will give Memories Group a 15.28% stake in Strand Hotel International Limited which has a 50% interest in The Strand Hotel, Inya Lake Hotel, and Hotel G Yangon and an 80% interest in The Strand Cruise.
• Consideration of US$3.19 million payable through the issuance of unlisted convertible bonds with a coupon rate of 5% per annum.

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