OCI Shareholders To Discuss Dutch Unit’s Offer Feb 13th
Orascom Construction Industries – OCI (OCIC.CA) said it will be holding its annual general meeting on Wednesday February 13th, 2013. OCI’s annual general meeting will look into approving the share exchange offer launched by its Dutch unit OCI N.V.
The meeting will also discuss the cushion investment agreement with parties associated with OCI board members, the Sawiris family representatives and Abraj Capital Group in order to increase the capital of OCI N.V.
The Sawiris family and The Abraaj Group have submitted all their OCI GDRs to exchange for OCI N.V. shares and have committed to finance any shortfall in the cash payable to the holders of OCI ordinary shares under the Share Exchange Offer with a Cash Alternative.
During the meeting, the company will detail to shareholders the exchange offers and cash alternative offered to shareholders of OCI made by OCI N.V. and the offer’s impact on shareholders and the impact of the offer on its GDRs. The company will also discuss the progress of the ongoing demerger of the construction business and the fertilizer business after the offer.
