Monday, 30 January 2017

Adhoc News

EQS-Adhoc: Orascom Development Holding AG: Swiss Takeover Board Rules that Voluntary Delisting of EDRs Not Subject to Swiss Takeover Law

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Orascom Development Holding AG: Swiss Takeover Board Rules that Voluntary
Delisting of EDRs Not Subject to Swiss Takeover Law

30-Jan-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR

Press Release

Orascom Development Holding AG: Swiss Takeover Board Rules that Voluntary
Delisting of EDRs Not Subject to Swiss Takeover Law

Altdorf, 30 January 2017 - Following the approval by the Board of Directors
on 26 December 2016, of the voluntary delisting of all Egyptian Depositary
Receipts (EDRs) from the Egyptian Exchange and taking all necessary actions
before all governmental and non-governmental authorities in Egypt and in
Switzerland, the company filed a request for ruling with the Swiss Takeover
Board (TOB), requesting among other that the TOB find that the delisting of
the EDRs is not subject to Swiss takeover law. On 17 January 2017, the TOB
ruled in favor of such request and issued the following ruling:

1. The right of the holders of Egyptian Depositary Receipts (EDRs) of
Orascom Development Holding AG, as a result of the delisting of the
EDRs from the Egyptian Exchange, to tender their EDRs, and the
company's obligation to repurchase the EDRs or to exchange them into
shares of the company, respectively, are not subject to the provisions
on public tender offers.

2. Following the issuance of the ruling to Orascom Development Holding AG,
the ruling will be published on the website of the Takeover Board.

3. Orascom Development Holding AG is obliged to publish the operative part
of the ruling of the Takeover Board, together with a note that
qualified shareholders (as defined below) may file an objection against
the decision.

4. The fee chargeable to Orascom Development Holding AG amounts to CHF

A shareholder providing evidence of holding at least three percent of the
voting rights in the company, whether exercisable or not (a qualified
shareholder, art. 56 of the Swiss Takeover Ordinance (TOO)), and who has
not yet participated in the proceedings may file an objection against the
ruling. The objection has to be filed with the TOB within five trading days
following the publication of the decision. The objection must contain a
formal request and a summary of the legal grounds, as well as proof of the
holding pursuant to art. 56 para. 3 and 4 TOO (art. 58 para. 4 TOO).

Orascom Development Holding is currently undertaking the necessary
procedures with the regulatory bodies in Egypt in connection with the
voluntary delisting. In accordance with the requests of the relevant
authorities in Egypt, the Board of Directors has resolved on 29 January
2017 to approve the proposal of the voluntary delisting of the EDRs and to
call an extraordinary general meeting of the Company and to present to the
meeting the proposal to approve the voluntary delisting. The date of the
extraordinary general meeting is yet to be determined following
consultation with the authorities in Egypt and will be announced in the
invitation to the extraordinary general meeting.

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 ten destinations; five in Egypt El Gouna, Taba
Heights, Makadi, Fayoum and Haram City, The Cove in United Arab Emirates,
Jebel Sifah and Salalah Beach in Oman, Lustica Bay in Montenegro 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

Contact for Media Relations:
Philippe Blangey
Dynamics Group AG
Tel: +41 432 68 32 35

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 AG '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 AG's results of operations and on whether Orascom Development
Holding AG will achieve its targets. Orascom Development Holding AG
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
Phone: +41 41 874 17 17
Fax: +41 41 874 17 07
ISIN: CH0038285679
Valor: A0NJ37
Listed: SIX Swiss Exchange

End of Announcement EQS Group News Service

539791 30-Jan-2017 CET/CEST