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 capital.
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, Luštica 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
Email:[email protected]
Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: [email protected]
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