Wednesday, 01 March 2017

Adhoc News

EQS-Adhoc: Orascom Development Holding AG: Extraordinary General Meeting approves Board of Directors' proposal to delist Egyptian Depositary Receipts

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Extraordinary General Meeting approves Board
of Directors' proposal to delist Egyptian Depositary Receipts

01-March-2017 / 11:59 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR


Press Release

Extraordinary General Meeting approves Board of Directors' proposal to
delist Egyptian Depositary Receipts

Altdorf/Cairo, 1 March 2017 - The Extraordinary General Meeting of Orascom
Development Holding AG today approved the Board of Directors' proposal
regarding the voluntary delisting of the Egyptian Depositary Receipts
(EDRs) from the Egyptian Exchange. The Board of Directors called the
meeting in accordance with the requests of the relevant authorities in
Egypt to present to the shareholders of the company the proposal to approve
the delisting.

Based on the Extraordinary General Meeting's approval the company will
proceed to undertake all further actions required to complete the delisting
of the EDRs.

About Orascom Development Holding AG

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 primary focus on touristic destinations. The
Group currently operates eight destinations; four in Egypt El Gouna, Taba
Heights, Haram City 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. ODH owns
84.64% of Orascom Hotels and Development, its largest Egyptian based
subsidiary listed on the EGX Egyptian Exchange.


Investor Relations Contacts

Sara El-Gawahergy
Head of Investor Relations
Tel: +20 100 2185651
Tel: +41 41 874 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 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
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

549251 01-March-2017 CET/CEST