ASMALLWORLD AG announces strategic capital increase 

Zurich, 09.10.2023 – Today, ASMALLWORLD AG announces that the Board of Directors has decided on a capital increase, which will be carried out within the capital band previously approved by the shareholders. For this purpose, up to 2,742,742 new shares will be issued,  and subscription rights will be offered to existing shareholders. The objectives of the capital increase are to lower increasing interest rate costs and to improve the company’s equity ratio, opening up more strategic options, including potential future acquisitions. The majority shareholder, Pellegrino Capital AG, has already confirmed its participation in the capital increase to further expand its long-term commitment to the company.

The new registered shares with a par value of CHF 1.00 will be offered to existing shareholders at a price of CHF 1.50 per share, valuing the capital increase at up to CHF 4,114,113.00. Existing shareholders will have subscription rights, but there will be no rights trading and no public offer.

The majority shareholder, Pellegrino Capital AG, has already confirmed its participation and intends to convert a major part of its existing shareholder loan in the amount of CHF 4,346,893.89 into newly created equity. Pellegrino Capital AG has also expressed its interest in subscribing for additional shares to the extent of unexercised subscription rights, which the Board of Directors may allocate to Pellegrino Capital AG in the interest of the Company and in accordance with its board resolution.

The capital increase is intended to improve the capital structure and reduce the burden of increasing interest rate costs. Likewise, the improved equity ratio will expand the scope of strategic options, including possible acquisitions in the future.

Shareholders will be informed about this capital increase with this ad-hoc announcement and via the Swiss Official Gazette of Commerce "SHAB" and have until October 23, 2023, to participate in the capital increase by exercising their subscription rights. The subscription form is also available for download online at www.asmallworldag.com.

The actual capital increase will take place on or around October 27, 2023, and the first trading day of the new shares will take place after admission to trading on the SIX Swiss Exchange on or around October 30, 2023.

As a result of the capital increase, the number of issued shares at par value of CHF 1.00 will increase from 11,718,715 to up to 14,461,457 shares. There is no obligation to publish a prospectus.

"The capital increase and the associated reduction of debt will allow us to reduce our interest costs and give us more flexibility for possible strategic acquisitions. I am also pleased that Pellegrino Capital AG confirmed its confidence in our strategy by supporting the capital increase," comments Jan Luescher, CEO of ASMALLWORLD.
 

This press release and further information can be found at www.asmallworldag.com.
 

This communication constitutes neither an offer nor an invitation to purchase securities nor an advertisement for a financial instrument within the meaning of Art. 68 of the Swiss Financial Services Act.

The ASMALLWORLD Group:

ASMALLWORLD is the world’s leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.

Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem that enables and inspires members to travel better, experience more and make new connections.

Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, engage in online discussions, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.

Members also meet in person at over 1,000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world, access to exclusive launches, shows, galas, soirees, exhibitions, major global sporting events and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and Gstaad.

Other businesses in the ASMALLWORLD travel & lifestyle ecosystem include:

ASMALLWORLD Collection, a high-end online hotel booking engine focused on the world’s most admired hotels, offering the unique “ASMALLWORLD VIP Rate,” which allows customers to enjoy exclusive travel benefits at no extra cost.

ASMALLWORLD Private, a high-end travel agency offering personalised travel curation services.

ASMALLWORLD Hospitality, a hospitality consulting and management consultancy that supports owners and developers of hospitality assets throughout the different lifecycle stages of their assets, including acquisition, development, operations and exit.

First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices.             

The World’s Finest Clubs, the world’s leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world.

For more information, please visit:

www.asmallworldag.com

www.asw.com

www.asmallworldcollection.com

www.asmallworldprivate.com

www.first-class-and-more.de

www.first-class-and-more.com

www.finestclubs.com

www.asmallworldhospitality.com

www.north-island.com

Contact:

ASMALLWORLD AG
Jan V. Luescher, CEO
Seidengasse 20
8001 Zurich
Switzerland
info@asmallworldag.com

Disclaimer

The statements contained in this press release may constitute "forward-looking statements". Such can be identified, for example, by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," "target," "seek," or "aim," or the negative of these words or comparable expressions.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Issuer or its industry to be materially different from any future results, level of activity, performance or achievements expressed or implied by such forward-looking statements.

The issuer undertakes no obligation to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.