Orascom Development Holding AG

EQS-Adhoc: Orascom Development Holding AG: 2015 AGM Release


EQS Group-Ad-hoc: 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

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

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10.05.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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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:   Foreign Exchange(s) SIX


End of News EQS Group News Service
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