GLOBAL TELECOM HOLDING S.A.E. GTH RECEIVES COURT ORDER IN IRAQNA LITIGATION
Amsterdam (5 March 2017) - Global Telecom Holding S.A.E. ('GTH' or the 'Company') (EGX: GTHE.CA,
LSE: GLTD:LI), an Egyptian joint stock company, today announces that, following the press release made
by the Company on 21 February 2017 regarding a historic dispute from 2012 (and undertakings arising
from a 2007 transaction) and a further English High Court hearing on 1 March 2017, GTH and Orascom
Telecom Iraq Ltd. will be ordered to pay Atheer Telecom Iraq Limited ('Atheer') the amounts of USD 60
million, plus approximately USD 7.75 million in accrued interest, and an interim payment of GBP 1.25
million for legal costs pending submission of a detailed schedule of costs by Atheer. Payment is to be
made by 15 March 2017. The trial court judge denied the Company's request for leave to appeal and did
not stay enforcement pending appeal. The Company, which expects to seek leave to appeal from the
Court of Appeal, must make its application on or before 22 March 2017.
Global Telecom Holding SAE published this content on 05 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 March 2017 06:48:15 UTC.
Original documenthttp://www.gtelecom.com/ir-news-details?articleId=212999
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