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Orascom Development Holding AG, CH0038285679

Orascom Development Holding AG, CH0038285679

20.05.2020 - 20:06:50

EQS-Adhoc: Orascom Development Holding AG: 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, 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, Lu?tica 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:ir@orascomdh.comContact for Media Relations:Philippe Blangey Partner Dynamics Group AG Tel: +41 432 68 32 35 Email: prb@dynamicsgroup.chDisclaimer & 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

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: SIX Swiss Exchange EQS News ID: 1052431   End of Announcement EQS Group News Service

1052431  20-May-2020 CET/CEST

@ dgap.de