ASMALLWORLD AG: ASMALLWORLD AG (ASWN) announces signing of call option agreement for luxury travel community26.04.2018
ASMALLWORLD AG / Key word(s): Takeover
ASMALLWORLD AG (ASWN) announces signing of call option agreement for luxury travel community
Patrick Liotard-Vogt, Chairman of the Board of Directors of ASMALLWORLD AG, comments: "We are pleased to announce the initiation of our first M&A process as a listed company to further expand and grow our subscriber base and service offerings. The external growth opportunity complements the operational growth momentum based on strong growth in the first quarter. This underpins our growth objective as listed company."
Call option agreement for DACH-focused subscription business
ASMALLWOLD AG has entered into a call option agreement with a subscription-based luxury travel community operating mainly in the DACH region. ASMALLWORLD AG has until November 30th 2018 to exercise the call option and acquirethe company. This call optionallows ASMALLWORLD to conduct a thorough due diligence and assess the synergies in detail while having the deal secured.
The final purchase price (up to EUR 30m), expected to be paid in parts with equity, and will depend on business performance of the target company and target company's management retention within the ASMALLWORLD group. Should ASMALLWORLD exercise the call option, an upward revision of ASMALLWORLD's revenue and subscriber numbers guidance for 2018 will result from it.
Acquisition financing - options are being explored
ASMALLWORLD will explore various acquisition financing options. ASW Capital AG, ASMALLWORLD's long-term oriented anchor shareholder (60%) is committed to support ASMALLWORLD AG's financing initiative with a substantial contribution.
This press release and further information can be found at www.asmallworldag.com.
ASMALLWORLD a private social network that connects people with shared passion for the good life.
Each year, ASMALLWORLD organises more than 1000 events around the world, where members can expand their private and professional networks. The ASMALLWORLD website and mobile apps offer members the opportunity to engage in discussions, obtain travel advice from the Travel Guides or other members, or meet other members whilst travelling the world. Members also enjoy exclusive privileges from international partners such as status upgrades, discounts and additional services.
Besides the global ASMALLWORLD community, Zurich-based ASMALLWORLD AG operates ASW Travel AG, which provides bespoke travel arrangements for its customers, as well as The World's Finest Clubs AG, which offers its members access to the most exclusive nightlife venues around the world.
End of ad hoc announcement