EQS-Adhoc: Orascom Development Holding AG: Completion of Delisting of the Egyptian Depositary Receipts [more]

Tuesday, 30 May 2017

EQS-Adhoc: Orascom Development Holding AG: Completion of Delisting of the Egyptian Depositary Receipts

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Completion of Delisting of the Egyptian
Depositary Receipts

30-May-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR

Press Release

Orascom Development Holding Ltd: Completion of Delisting of the Egyptian
Depositary Receipts

Altdorf/Cairo, 30 May 2017 - Following the delisting approval issued by the
Listing Committee of the Egyptian Exchange (EGX) on the 24th of May 2017,
Orascom Development Holding (ODH) has successfully completed the previously
announced delisting of the company's Egyptian Depositary Receipts (EDRs)
from the EGX. The majority of the EDR holders have chosen to swap their EDRs
into shares of ODH that had previously been underlying the EDRs and only
9.9% out of the 189,123,620 EDRs were tendered to the company for repurchase
at a price of EGP 5.25 (CHF 0.29) per EDR or CHF 5.79 per ODH share (1 ODH
share is underlying 20 EDRs). The ODH shares remain listed at the SIX Swiss
Exchange.

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 a primary focus on touristic destinations. The Group
currently operates ten destinations; Five in Egypt (El Gouna, Taba Heights,
Makadi, Byoum and Harram City), The Cove in United Arab Emirates, Jebel
Sifah and Salalah Beach in Oman, Lustica Bay in Montenegro and Andermatt in
Switzerland. The shares of Orascom Development Holding are listed on the SIX
Swiss Exchange.

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

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
Hotels and Development'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 Hotels and Development's results of
operations and on whether Orascom Hotels and Development will achieve its
targets. Orascom Hotels and Development 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

578405 30-May-2017 CET/CEST