Dear investors,  
 
I am excited to announce that ASMALLWORLD will take over the management of the iconic North Island resort in the Seychelles.
 
North Island is also the first hotel of the newly-created ASMALLWORLD Hotel Collection which has the ambition to inspire the ASMALLWORLD community to travel to the world's most iconic destinations and experience the highest hospitality standards.
 
You will find more details of this exciting announcement in the attached investor update.
 
Sincerely,
Jan Luescher
CEO

Löwenstrasse 40 | CH-8001 Zurich
jan@asw.com | www.asw.com