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

Tuesday, 09 May 2017

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

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.

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

571559 09-May-2017 CET/CEST