Orascom Development Holding AG

Annual General Meeting approves all proposals of the Board of Directors

Orascom Development Holding AG / Key word(s): AGMEGM/AGMEGM Orascom Development Holding AG: Annual General Meeting approves all proposals of the Board of Directors 09.05.2023 / 18:14 CET/CEST Press Release  Annual General Meeting approves all proposals of the Board of Directors

Altdorf, 9 May 2023 - The 15^th Annual General Meeting of Orascom Development Holding AG was held today in Andermatt, Switzerland. At the meeting 42,934,512 registered shares, corresponding to 71.77% 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 further approved all proposed amendments of the articles of association, in particular to align the articles of association to the revised corporate law.

 

About Orascom Development Holding AG:

From El Gouna’s stunning Egyptian coastal town by the Red Sea to Andermatt Swiss Alps’ breath-taking, year-round mountain destination, each master-planned community is a testament to Orascom Development's commitment to place-making at its finest. The integrated towns harmoniously combine residential areas with private villas and apartments, hotels, and award-winning leisure and commercial amenities – including golf courses, marinas, sports facilities, retail shops and restaurants.

Orascom Development owns a land bank of more than 100 million square meters with nearly 40% developed or under development into thriving communities in Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the GCC (The Cove in the UAE and Jebel Sifah and Hawana Salalah in Oman), and in Europe (Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro and West Carclaze Garden Village in the UK). Orascom Development’s hospitality portfolio includes 33 premium and luxury hotels with more than 7,000 rooms across Europe, the Middle East, and North Africa. ODH shares are listed on the SIX Swiss Exchange.