ASMALLWORLD AG: EXTRAORDINARY GENERAL ASSEMBLY ELECTS ALEXANDER KOENIG TO THE BOARD OF DIRECTORS AND INCREASES AUTHORIZED SHARE CAPITAL TO 3.5M SHARES28.11.2018
ASMALLWORLD AG / Key word(s): Change of Personnel/Capital Increase
ASMALLWORLD AG (SWX:ASWN): EXTRAORDINARY GENERAL ASSEMBLY ELECTS ALEXANDER KOENIG TO THE BOARD OF DIRECTORS AND INCREASES AUTHORIZED SHARE CAPITAL TO 3.5M SHARES
Zurich, 28.11.2018 - ASMALLWORLD AG's extraordinary general assembly today elected Alexander Koenig to its board of directors. ASMALLWORLD AG plans to further accelerate its growth and drive the international expansion of its recently acquired subsidiary First Class & More (FC&M). The founder of FC&M and former McKinsey & Co. consultant, Mr. Koenig, will lead the effort which will commence in early 2019. At the same time, ASMALLWORLD AG created more financial flexibility through an increase in authorized share capital to 3.5M shares.
On today's November 28th, 2018, ASMALLWORLD AG invited its shareholders to an extraordinary general assembly. On the agenda was the election of Alexander Koenig to its Board of Directors. 99.7% of shareholders present voted in favor of this proposal. "It's great to see that Alexander Koenig has the support of our shareholders. He has a lot of expertise in the travel industry from running First Class & More, and a strong strategic mindset from his time at McKinsey and Boston Consulting Group, which make him a valuable addition to our Board.", Jan Luescher, ASMALLWORLD's CEO, comments.
Mr. Koenig will lead the international expansion of the operations of First Class & More, which aims to replicate the success of the highly profitable German-speaking business in the English-speaking world.
At the same time, ASMALLWORLD AG shareholders decided to increase the company's authorized share capital from currently ~1.3M to 3.5M shares. 99.8% of shareholders present voted in favor of this increase. ASMALLWORLD AG plans to use part of the additional authorized capital for a capital increase to strengthen its balance sheet after the recent acquisition of First Class & More International GmbH. The additional authorized capital will also grant financial flexibility for further strategic M&A activities, and the company's Board of Directors will decide on this potential capital increase in the coming weeks, depending on market conditions.
There were 13 voting shareholders with 5,524,364 votes (98%) present. The independent proxy represented 94,979 shares (2%). The total of voting shares amounted to 5,619,343, with a total nominal value of CHF 5,619,343, corresponding to 63.4% of the share capital.
About Alexander Koenig
Alexander Koenig is one of the most renowned experts in the DACH region when it comes to the best usage of loyalty programs, specifically of airlines and hotels. Given his expertise, the German press affectionately call him the "Meilenkoenig" (King of Miles). The original idea of First Class & More, a subscription-based luxury travel community, dates back to 2003. Alexander Koenig holds a PhD in marketing and has comprehensive marketing, market research and business intelligence experience. He also spent many years in management consulting and worked at McKinsey & Co. as well as the Boston Consulting Group.
This press release and further information can be found at www.asmallworldag.com.
ASMALLWORLD, the world's leading lifestyle community, is a private social network that connects people with a 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 First Class & More, a subscription-based luxury travel community, 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.
More at www.asw.com and www.asmallworldag.com and www.first-class-and-more.de
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