ATOM Myanmar Limited today announced that Shwe Byain Phyu Group, an investor in Investcom PTE Ltd. (which holds the majority of shares in ATOM Myanmar Limited), has divested its investment, has been removed from the board of directors, and has fully transferred its shares in Shwe Byain Phyu Group to Myancom Holding Ltd.
At the same time, ATOM remains firmly committed to continuing as an independent entity, free from sanctions and fully compliant with all applicable laws and regulations, in order to keep providing the telecommunications infrastructure and services that are essential for the people of Myanmar, while upholding consumer and human rights.
ATOM Myanmar will continue to provide its loyal customers and stakeholders with distinctive, high-quality service and the latest offerings, while remaining committed to strictly complying with legal and regulatory requirements in line with global best practices. ATOM reaffirms its commitment to continuing as a telecom services company guided by a people-first purpose and mission as it moves forward with its operations.
ATOM also confirms that it has no association with any sanctioned individual or entity, and that no sanctioned individual or entity holds any position as a shareholder, beneficial owner, or member of its senior management team.
U Thein Win Zaw, U Win Paing Kyaw, and Daw Tin Lat Min have resigned from the board of directors. U Win Paing Kyaw has also resigned from his position as Deputy CEO of ATOM Myanmar. No replacement has yet been appointed to fill that vacant position at this time.
Aside from the matters described above, there are no other changes. ATOM remains committed to broadly providing affordable, secure, world-class digital products and services aimed at improving people’s lives and strengthening communities and businesses across Myanmar.