Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
23.04.2014 13:06

Release of an ad hoc announcement pursuant to Art. 53 KR

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Press Release

Orascom Development Holding AG: 6th Annual General Meeting of Orascom Development

Altdorf/Cairo, 23 April 2014 - Orascom Development Holding AG (Orascom Development) will hold its 6th Annual General Meeting on Monday, 12 May 2014, at 3:00 p.m. CEST (doors open at 2:00 p.m. CEST) at Theater Uri, Schützengasse 11, 6460 Altdorf, Switzerland. The attached document includes the invitation along with the agenda of the Annual General Meeting.
Jean-Gabriel Peres whose term ends at the 2014 Annual General Meeting decided not to stand for re-election. At the upcoming Annual General Meeting the Board of Directors proposes the re-election of all other board members. Further, the Board of Directors proposes that Mr. Jürgen Fischer and Mr. Jürg Weber be elected as new members of the Board of Directors for a one-year term of office until the Annual General Meeting in 2015.
Curriculum Vitae - Jürgen Fischer

Mr. Jürgen Fischer, is founder of "The Pearl Management Consultants" in Dubai, United Arab Emirates. Previously he was CEO of Dubai Properties LLC, a major real estate developer in the UAE. Besides looking after 20'000 residential leasing units, 50'000sqm of retail space, thousands of "Built to Sell" apartments and villas and several master developments in Dubai, he was as well involved in international developments of Sama Dubai in Morocco and Oman. During his time with Dubai Properties he oversaw several theme park and tourist projects. Between 1995 and 2008 Jürgen Fischer held several senior positions with Hilton International, such as President Commercial Operations and President for Continental Europe, Middle East and Africa, as well as President Scandic Hotels AB. Prior to joining Hilton, he worked for the Walt Disney Company in different roles in Florida and Paris including Vice President Sales & Marketing for Disneyland Paris, Director of Resort Development at Disneyland Paris and General Manager of the luxury Grand Floridian Beach Resort at Walt Disney World, Florida. Fischer held several hotel management positions in Europe and Middle East after starting his professional life as a Chef in 1970. He later graduated from the Ecole Hôtelière Lausanne, Switzerland and obtained an MBA with Honors from IMEDE/IMD, Lausanne in 1988. He is born in Switzerland, married and has 3 sons. He enjoys competitive road cycling, marathon running and triathlon.
Curriculum Vitae - Jürg Weber

Jürg Weber holds a MBA and a Major in Finance and Strategic Planning from the Wharton School, University of Pennsylvania. Mr. Weber previously studied Civil Engineering at the School of Engineering in Switzerland and Microeconomics and English at the University of California, Santa Barbara. Mr. Weber is currently member of the Board of Directors from "AVIVA Sigorta A.S:", "KRON TELEKOMÜNIKASION HIZMETLERI A.S.", "GREAT TURK FUND LTD." , which are all domiciled in Istanbul, Turkey, and from "BENSYS HOLDING", which is domiciled in Amsterdam, Holland. He also is founder and owner of the "GOLDEN HORN MANAGEMENT LTD", which is domiciled in Kiev, Ukraine. Previously Mr. Weber was CEO of "BOYNER HOLDING", Turkey, a Partner of "McKINSEY & COMPANY, INC.", Turkey, a Consultant for "McKINSEY & COMPANY, INC.", Switzerland, an assistant to the Vice Chairman in "UBS PHILIPS & DREW", UK and a project manager and assistant to CEO with "UBS, BANK OF SWITZERLAND", New York.

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 and budget housing. 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.

Investor Relations Contacts 
Sara El-Gawahergy        
Investor Relations Director   
Tel: +2 0100 218 5651
Tel: +41 41 874 17 11    
Email: ir@orascomdh.com         
Contact Media Relations
media@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.

23.04.2014 News transmitted by EQS Schweiz AG. 
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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:                 SIX
 
End of Announcement EQS Group News-Service  

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