News

The Board of Directors of the Company (“Board”) wishes to inform that a fire incident occurred on Friday, 30 December 2016 at around 4:00 p.m. (1600 GMT)(local time in Arosa) at Holiday Villa Arosa located at Oberseepromenade, CH 7050 Arosa, Switzerland, a hotel owned by Posthotel Arosa AG, an indirect 62.49%-owned subsidiary of ASB.

The speedy reaction of the hotel’s general manager and his staffs resulted in the safe evacuation of all in-house guests and staffs. However, some guests were given on the spot first aid for minor injuries and 3 guests were hospitalised but to date only 1 guest is still in the hospital. The Head of Arosa tourism assisted to provide alternative accommodations for all guests in other hotels. The cause of the fire is still unclear.

At this juncture, the Board is unable to finalise the financial impact to ASB Group but believes that the damages are adequately insured pending the insurance company’s assessment.

Further developments of the above matter will be announced in due course.

This announcement is dated 3 January 2017.