The President of Myanmar Sao Shwe Thaik refused to pardon or commute the sentences of most of those who were sentenced to death, and U Saw was hanged inside Yangon's Insein jail on 8 May 1948. A number of perpetrators met the same fate. Others, who had played relatively minor roles and were sentenced to various terms of imprisonment, also spent several years in prison.
The assassinated were:
Aung San, Prime Minister
Ba Cho, Minister of Information
Mahn Ba Khaing, Minister of Industry
Ba Win, Minister of Trade
Thakin Mya, Minister of Home Affairs
Abdul Razak, Minister of Education and National Planning
Sao San Tun, Minister of Hills Regions
Ohn Maung, Deputy Minister of Transport
Ko Htwe, Bodyguard of Razak
Tin Tut, Minister of Finance, was seriously wounded but survived. Many Myanmar citizens believe that the British had a hand in the assassination plot one way or another; two British officers were also arrested at the time and one of them charged and convicted for supplying an agent of U Saw with arms and munitions enough to equip a small army, a large part of which was recovered from a lake next to U Saw's house in the immediate aftermath of the shooting.
Soon after the assassinations, Sir Hubert Rance, the British governor of Myanmar appointed U Nu to head an interim administration and when Myanmar became independent on 4 January 1948, Nu became the first Prime Minister of independent Myanmar . July 19 was designated a public holiday and to be known as Martyr's Day.
Myoma U Than Kywe led the ceremony of the First Myanmar Martyrs' Day on July 20, 1947 in Yangon.Today is The 66th Myanmar's Martyr Day .