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: [email protected]
Contact for Media Relations:
Dynamics Group AG
Tel: +41 432 68 32 35
Email: [email protected]
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