Orascom Development Holding AG
DGAP-Adhoc: Orascom Development Holding AG: Orascom Development Holding (ODH) filed with the Egyptian Stock Exchange (EGX) to offer 10-15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD).
EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): Corporate Action/Corporate Action Orascom Development Holding AG: Orascom Development Holding (ODH) filed with the Egyptian Stock Exchange (EGX) to offer 10-15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD). 11.12.2014 / 07:00 Release of an ad hoc announcement pursuant to Art. 53 KR. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------- Press Release Orascom Development Holding (ODH) filed with the Egyptian Stock Exchange (EGX) to offer 10-15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD). ODH's Board of Directors approved the offering of 10 to 15% of its Egyptian subsidiary, Orascom Hotels and Development (OHD) at a total equity value of EGP 3.37 billion (approximately USD 470 million or CHF 455 million), to reactivate its trading on the Egyptian Stock Exchange (EGX) and comply with its listing rules and regulations. The 10-15% will be sold at a consideration of EGP 15.20 (approximately USD 2.12, CHF 2.06) per share. This offering comes as part of the Group's monetization efforts, the proceeds of which shall be re-injected into OHD to support its ongoing operations and deleverage its balance sheet. The Group has mandated CI Capital and Beltone investment banks as joint lead arrangers and book runners on this transaction. The necessary documentation and pricing has been filed with the EGX and is awaiting final approval. 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 a primary focus on touristic destinations. The Group currently operates seven destinations; three in Egypt El Gouna, Taba Heights 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. Contact for Investors: Sara El Gawahergy Director of Investor Relations Tel: +20 224 61 89 61 Tel: +41 418 74 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 advisor End of ad hoc announcement --------------------------------------------------------------------- 11.12.2014 News transmitted by EQS Schweiz AG. www.eqs.com - news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. --------------------------------------------------------------------- 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: Foreign Exchange(s) SIX End of News EQS Group News-Service --------------------------------------------------------------------- 304413 11.12.2014