Annual General Meeting approves all proposals of the Board of Directors

Press Release
 

Annual General Meeting approves all proposals of the Board of Directors

Altdorf, 13 May 2024 - The 16th Annual General Meeting of Orascom Development Holding AG took place today. In accordance with Article 7 of the Articles of Association, it was held virtually. At the meeting 47,769,562 registered shares, corresponding to 79.85% of the issued share capital, were represented.

All proposals of the Board of Directors were approved. All members of the Board of Directors and the Nomination and Compensation Committee as well as the auditors and the independent proxy were re-elected. The shareholders also approved the inaugural ‘Life with Purpose’ 2023 Environmental, Social, and Governance (ESG) Report.

About Orascom Development Holding AG:

Orascom Development Holding (ODH) is a leading developer of fully integrated towns that include hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development Holding’s diversified portfolio is spread over seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro, and the United Kingdom). The group currently operates ten destinations: five in Egypt (El Gouna, Taba Heights, Makadi Heights, O West and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro, and West Carclaze Garden Village in the United Kingdom. The shares of ODH are listed on the SIX Swiss Exchange. For more information, please visit https://www.orascomdh.com/.

Contact for Investors:      

Ahmed Abou El Ella     

Group Director of Investor Relations    

Tel: +20 224 61 89 61

Mobile: +20 122129 5555      

Email: ir@orascomdh.com

Disclaimer:

This press release may contain forward-looking statements which are based on current assumptions and forecasts of the ODH management. Known and unknown risks, uncertainties, and other factors could lead to material differences between any forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of ODH. ODH accepts no responsibility for updating forward-looking statements or adapting them to future events or developments.