ASA International Group plc
Notice of changes in shareholding
Amsterdam, 24 December 2019 - ASA International Group plc (the 'Company'), one of the world's largest international microfinance institutions, today announces that it has been notified by its founding and largest shareholder Catalyst Microfinance Investors ('CMI'), that the life of the CMI fund has been extended by another five years up to 31 December 2024.
As part of this process CMI shall distribute in-kind 10.6% of the Company's shares to 11 out of 29 CMI shareholders who did not opt to extend their holding in CMI. This will reduce CMI's shareholding in the Company to 30.4% from 41% and increase the Company's free float. The Company has not issued any new shares.
Of the 11 CMI shareholders that elected an in-kind distribution, 5 shareholders (representing 2.0% in aggregate of the Company's shares) are subject to a lock-up, which ends on 15 July 2020. The 11 shareholders will cease to be shareholders of CMI post the distribution of the Company's shares.
As a result hereof and upon all legal formalities having been duly completed, the Company will welcome as its shareholder inter alia CDC Group Plc, the development finance institution owned by the UK government.
As one of CMI's largest shareholders, Joost Arkesteijn of APG Asset Management N.V., commented:
"As founding investors in ASA International, our participation in the extension of the life of the CMI fund underlines our continued confidence in the prospects of the Company. Through our shareholding in CMI, we continue to be a supportive shareholder of the Company as it delivers against its long-term strategy."
CMI was the ultimate parent of ASA International Group plc until the Company's IPO in July 2018, at which time CMI's shareholding was reduced to 41%.
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ASA International Group plc +31 20 846 3554
Investor Relations +31 6 2030 0139
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About ASA International Group plc
ASA International is one of the world's largest international microfinance institutions, with a strong commitment to financial inclusion and socioeconomic progress. The company provides small, socially responsible loans to low-income, financially underserved entrepreneurs, predominantly women, across South Asia, South East Asia, West and East Africa.