Orascom Development Holding AG

EQS-Adhoc: Orascom Development Holding AG: Annual General Meeting approves all Board of Directors proposals


EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): AGM/EGM/AGM/EGM
Orascom Development Holding AG: Annual General Meeting approves all Board of
Directors proposals

09-May-2017 / 18:14 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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Press Release: Annual General Meeting approves all Board of Directors proposals

Altdorf/Cairo, 9 May 2017 - The Ninth Annual General Meeting of Orascom
Development Holding AG (Orascom Development) was held today in Altdorf,
Switzerland. In total, 255 shareholders took part in the Annual General Meeting.

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


All members of the Board of Directors stood for re-election and were confirmed
in their office for a further year.


Furthermore, there will be no dividend payment for the financial year 2016.


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


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 seven jurisdictions (Egypt,
UAE, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with primary
focus on touristic destinations. The Group currently operates ten destinations;
five in Egypt (El Gouna, Taba Heights, Fayoum Makadi, and Harram City), The Cove
in the United Arab Emirates, Jebel Sifah and Salalah Beach in Oman, Luštica 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.

 

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.
 
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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

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571559  09-May-2017 CET/CEST
 



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