Tuesday, 27 December 2016

Adhoc News

EQS-Adhoc: Orascom Development Holding AG: Board of Directors approved the voluntary delisting of all Egyptian Depositary Receipts of the company from the Egyptian Exchange

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Board of Directors approved the voluntary
delisting of all Egyptian Depositary Receipts of the company from the
Egyptian Exchange

27-Dec-2016 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR


Press Release


Orascom Development Holding AG: Board of Directors approved the voluntary
delisting of all Egyptian Depositary Receipts of the company from the
Egyptian Exchange

Altdorf, 27 December 2016 - The Board of Directors approved the voluntary
delisting of all Egyptian Depositary Receipts (EDRs) from the Egyptian
Exchange on 26 December 2016, subject to obtaining all necessary regulatory
approvals, based on the authorization granted to it by the Annual General
Meeting on 18 May 2015 to take decisions on the listing or delisting on any
stock exchange outside of Switzerland.

The decision to delist aims to increase the free float and improve the
liquidity of the company's shares on the SIX Swiss Exchange where ODH
maintains its primary listing and remove the inconsistencies resulting from
the listing of both the EDRs and the shares of ODH's largest subsidiary in
Egypt, Orascom Hotels and Development (OHD), on the Egyptian Exchange,
which should potentially enhance the liquidity and trading volumes of OHD.

Based on the Board of Directors' approval the company will proceed to make
the required filings and work with the authorities in Egypt and Switzerland
to obtain all necessary approvals to complete the delisting of the EDRs.

About Orascom Development Holding

Orascom Development is a leading developer of fully integrated destinations
that include hotels, private villas and apartments, leisure facilities such
as golf courses, marinas and supporting infrastructure. Orascom
Development's diversified portfolio of destinations is spread over eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with a primary focus on touristic destinations. The
Group currently operates seven destinations; three in Egypt El Gouna, Taba
Heights and Makadi, The Cove in United Arab Emirates, Jebel Sifah and
Salalah Beach in Oman and Andermatt in Switzerland. Orascom Development has
a dual listing, with a primary listing on the SIX Swiss Exchange and a
secondary listing on the EGX Egyptian Exchange.


Contact for Investors:
Sara El Gawahergy
Head of Investor Relations
Tel: +202 246 18961
Tel: +41 418 74 17 11
Email: ir@orascomdh.com


Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch



Disclaimer & Cautionary Statement


The information contained in this e-mail, its attachment and in any link to
our website indicated herein is not for use within any country or
jurisdiction or by any persons where such use would constitute a violation
of law. If this applies to you, you are not authorized to access or use any
such information. Certain statements in this e-mail and the attached news
release may be forward-looking statements, including, but not limited to,
statements that are predications of or indicate future events, trends,
plans or objectives. Forward-looking statements include statements
regarding our targeted profit improvement, return on equity targets,
expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
because, by their nature, they are subject to known and unknown risks and
uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding's plans and objectives to differ
materially from those expressed or implied in the forward looking
statements (or from past results). Factors such as (i) general economic
conditions and competitive factors, particularly in our key markets; (ii)
performance of financial markets; (iii) levels of interest rates and
currency exchange rates; and (vii) changes in laws and regulations and in
the policies of regulators may have a direct bearing on Orascom Development
Holding's results of operations and on whether Orascom Development Holding
will achieve its targets. Orascom Development Holding undertakes no
obligation to publicly update or revise any of these forward-looking
statements, whether to reflect new information, future events or
circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that
interim results are not necessarily indicative of the full-year results.
Persons requiring advice should consult an independent adviser.



End of ad hoc announcement


Language: English
Company: Orascom Development Holding AG
Gotthardstraße 12
6460 Altdorf
Switzerland
Phone: +41 41 874 17 17
Fax: +41 41 874 17 07
E-mail: ir@orascomdh.com
Internet: www.orascomdh.com
ISIN: CH0038285679
Valor: A0NJ37
Listed: SIX Swiss Exchange



End of Announcement EQS Group News Service

532941 27-Dec-2016 CET/CEST