Citadel Says to Open Subscription to Secondary Shares Dec. 24

Citadel Capital announced it obtained the approval of the Egyptian Financial Supervisory Authority (EFSA) on inviting shareholders to subscribe to 182,093,750 preferred shares and 546,281,250 common shares at EGP 5 par value each, totaling EGP 3,641,875,000.

Shareholders of record till the close of trading on Thursday, December 19, 2013 will be entitled to subscribe to the secondary shares within 83.565% of owned equities.

The subscription will start on Tuesday, December 24, 2013 and will run for one month till Thursday, January 23, 2014. It may be closed if fully covered.

In case of under-subscription, remaining shares will be re-offered to shareholders without pro rate.

In case of over-subscription, allotment will be effected as per requested to available shares.