OCI Shareholders Due to Review FV Study for Subsidiaries Today

Orascom Construction Industries (OCI) will be holding today an ordinary general meeting to look into endorsing a study to determine the fair values of OCI subsidiaries Suez Industrial Development and Orascom Construction, with an aim to restructure the group companies.

Shareholders are also due to discuss approving compensation contracts, in addition to the appointment of an auditor and the re-formation of the company’s board of directors.

In case of lack of quorum, the meeting will be rescheduled for Monday, December 30, 2013.

OCI N.V. announced on December 4 the closing of the re-opening of an exchange offer to acquire all of the outstanding Regulation S global depositary receipts (GDRs) of Orascom Construction Industries (OCI) in exchange for ordinary shares in OCI N.V. As of the latest filings on December 3, GDR holders holding a total of 921,845 GDRs have accepted the offer to exchange their GDRs for OCI N.V. shares. OCI N.V. now owns 99.32% of OCI and the total number of GDRs which remain outstanding is 112,345.