Orascom Development Holding AG: 2015 AGM Release Dienstag, 10. Mai 2016 - 08:01

Orascom Development Holding AG / Key word(s): AGM/EGM/AGM/EGM
Orascom Development Holding AG: 2015 AGM Release

10.05.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Press Release

Annual General Meeting approves all Board of Directors proposals 

Altdorf/Cairo, 10 May 2015 - The Eighth Annual General Meeting of Orascom
Development Holding AG (Orascom Development) was held yesterday in Altdorf,
Switzerland.  In total, 271 shareholders took part in the Annual General
Meeting.

All proposals put forward by the Board of Directors were approved by a
clear majority.

Mr. Eskandar Tooma did not stand for re-election. All other members of the
Board of Directors stood for re-election and were confirmed in their office
for a further year. Mr. Naguib Samih Sawiris was elected as a new member of
the Board of Directors.

Furthermore, there will be no dividend payment for the financial year 2015.

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

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expense reductions, pricing conditions, dividend policy and underwriting
claims improvements. Undue reliance should not be placed on such statements
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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.