Orascom Development Holding AG
EQS-Adhoc: Orascom Development Holding AG: Invitation to the Annual General Meeting 2016
EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): AGM/EGM/AGM/EGM Orascom Development Holding AG: Invitation to the Annual General Meeting 2016 15.04.2016 / 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 Invitation to the Annual General Meeting 2016 Altdorf/Cairo, 15th April 2016 - Orascom Development Holding AG (Orascom Development) will hold its 8th Annual General Meeting on Monday, 9th May 2016, at 15:00h CET (doors open at 14:00h CET) at Theater Uri, Schützengasse 11, 6460 Altdorf, Switzerland. The attached document includes the invitation along with the agenda of the Annual General Meeting. Prof. Eskandar Tooma whose term ends at the 2016 Annual General Meeting decided not to stand for re-election. Following the previous announcement of November 30th 2015, Prof. Tooma's interim period as CFO comes to an end on May 10th, 2016. Ashraf Nessim, currently CFO of the Group's largest subsidiary will resume the roles of ad-interim Group CFO moving forward. At the upcoming Annual General Meeting, the Board of Directors proposes the re-election of all other board members for a one-year term of office. Further, the Board of Directors proposes that Naguib S. Sawiris to be elected as a new member of the Board of Directors for a one-year term of office until the Annual General Meeting in 2017. Curriculum Vitae - Naguib S. Sawiris Naguib S. Sawiris is the Founder and CEO of Yup (2014-present), a San Francisco based education Technology Company. Yup provides on-demand personalized learning through mobile chat with over 300,000 student sign-ups. Yup has raised $7.5M from leading tech and education investors including Index Ventures, Floodgate Fund, and Stanford University's StartX Fund. Naguib S. Sawiris attended Stanford University where he designed his own major, Economic and Enterprise Engineering. He is an active angel investor, having invested in over 20 companies including DoctorOnDemand, Transcriptic, and Womply. Curriculum Vitae - Ashraf Nessim Eng. Nessim has more than 20 years of experience in various fields including finance, infrastructure and hospitality. He currently holds the position of Deputy Group Chief Financial Officer of Orascom Development Holding. He is also the Chief Financial Officer of Orascom Hotels and Development the Egyptian largest subsidiary of the group which encompasses 64 subsidiaries. Prior to joining the group he was the Chief Financial Officer representing Beltone Private Equity in their Pick Albatros Investment, one of the largest players in the travel and tourism industry in Egypt with almost 6,000 rooms under management. He played a pivotal role in the legal and financial restructuring of Pick Albatros Group. From 2007 to 2010 he was the Group Chief Financial Officer of Mobiserve, a key player in the mobile telecom network infrastructure in 9 countries within the Middle East and South Asia. Prior to shifting his career to finance he established the operation of Raya Distribution in Algeria and managed merchandising activities in all 34 shops in of Nokia and Samsung in Egypt. Mr. Nessim holds a Bachelor degree in Mechanical Engineering and he is also one of the earlier people in Egypt to hold the CFA designation in 2004. About Orascom Development Holding AG (ODH) 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. 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. ODH owns 84.64% of Orascom Hotels and Development, its largest Egyptian based subsidiary listed on the EGX Egyptian Exchange. Investor Relations Contacts Sara El-Gawahergy Head of Investor Relations Tel: +0100 218 5651 Tel: +41418741711 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. End of ad hoc announcement -------------------------------------------------------------------------------- 15.04.2016 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 -------------------------------------------------------------------------------- 454503 15.04.2016