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EQS-Adhoc: Orascom Development Holding AG: Annual General Meeting approves all proposals of the Board of Directors

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EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Orascom Development Holding AG: Annual General Meeting approves all
proposals of the Board of Directors

20-May-2020 / 20:03 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

*Press Release*

*Annual General Meeting approves all proposals of the Board of Directors.*

Altdorf, 20 May 2020 - The 12th Annual General Meeting of Orascom
Development Holding AG was held today in Altdorf, Switzerland. Due to the
extraordinary situation in connection with the Covid-19-pandemic personal
participation of shareholders was excluded. The independent proxy
represented 32,125,266 registered shares and 79.14% of the issued share
capital, respectively, at the meeting.

All proposals of the Board of Directors were approved. All members of the
Board of Directors and the Nomination and Compensation Committee stood for
re-election and were elected for another one-year term of office. Deloitte
AG, Zurich, was confirmed as auditors for the 2020 financial year and Dr.
Hansheiri Inderkum was re-elected for another term until the end of the
Annual General Meeting 2021. The shareholders also approved the proposed
maximum amounts for the compensation of the members of the Board of
Directors and the Executive Management and the re-introduction of authorized

*About Orascom Development Holding (ODH):*
Orascom Development Holding (ODH) 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 primary focus on touristic destinations. The Group
currently operates nine destinations; four in Egypt (El Gouna, Taba Heights,
Fayoum and Makadi Heights), The Cove in the United Arab Emirates, Jebel
Sifah and Hawana Salalah in Oman, Lustica Bay in Montenegro and Andermatt in
Switzerland. The shares of Orascom Development Holding (ODH) are listed on
the SIX Swiss Exchange.

*Contact for Investors:
Sara El Gawahergy *
Head of Investor Relations & Strategic Projects Management
Tel: +202 246 18961
Tel: +41 418 74 17 11
Mob: +41 79 156 78 49

*Contact for Media Relations:*
*Philippe Blangey*
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

*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'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's results of operations
and on whether Orascom Development Holding will achieve its targets. Orascom
Development Holding 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
Language: English
Company: Orascom Development Holding AG
Gotthardstraße 12
6460 Altdorf
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 Swiss Exchange
EQS News ID: 1052431

End of Announcement EQS Group News Service

1052431 20-May-2020 CET/CEST

(END) Dow Jones Newswires

May 20, 2020 14:03 ET ( 18:03 GMT)

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