ASMALLWORLD AG successfully completes capital increase
ASMALLWORLD AG
/ Key word(s): Capital Increase
ASMALLWORLD AG successfully completes capital increase Zurich, 31.10.2023 – Today, ASMALLWORLD AG announces the successful completion of a capital increase, previously announced on October 9th, 2023, within the capital band. Investors subscribed all of the 2'742'742 new shares, which will be traded for the first time today. The objectives of the capital increase were to reduce the company’s debt, resulting in a smaller interest burden, while also opening up more strategic options for the future on the back of a stronger balance sheet. ASMALLWORLD AG announces that its capital increase, previously announced on October 9th, 2023, has been successfully completed. After the issuance of the 2’742’742 shares, the share capital of ASMALLWORLD AG now amounts to CHF 14’461’457.00, divided into 11'362'153 registered shares with a nominal value of CHF 1.00 each. The issuing price was CHF 1.50. The anchor investor, Pellegrino Capital AG, has taken over 2’534’888 of the newly issued shares and is thus further expanding its stake in ASMALLWORLD AG. As part of the capital increase, a large part of an outstanding loan from Pellegrino capital AG was used to pay for the newly issued shares, which reduced the company's debt capital by CHF 3’802’332. As a result, the company's capital structure was strengthened, creating more strategic options for the future while simultaneously reducing the company’s interest burden in an environment of rising interest rates. "The successful capital increase reflects the confidence of our investors in ASMALLWORLD. The management of ASMALLWORLD would like to sincerely thank its investors for their trust, in particular Pellegrino Capital AG, which has further extended its commitment to the company," comments Jan Luescher, CEO of ASMALLWORLD.
This press release and further information can be found at www.asmallworldag.com.
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.asmallworldhospitality.com
Contact: ASMALLWORLD AG
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.
End of Media Release |
Language: | English |
Company: | ASMALLWORLD AG |
Seidengasse 20 | |
8001 Zürich | |
Switzerland | |
ISIN: | CH0404880129 |
Valor: | A2JE3W |
Listed: | Regulated Unofficial Market in Frankfurt; SIX Swiss Exchange |
EQS News ID: | 1760807 |
End of News | EQS News Service |
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1760807 31.10.2023 CET/CEST