Key Developments: Orascom Development Holding AG (ODHN.S)

ODHN.S on Swiss Exchange

19.85CHF
26 Aug 2014
Price Change (% chg)

CHF0.45 (+2.32%)
Prev Close
CHF19.40
Open
CHF19.60
Day's High
CHF19.90
Day's Low
CHF19.40
Volume
44,434
Avg. Vol
43,296
52-wk High
CHF22.10
52-wk Low
CHF7.45

Search Stocks

Latest Key Developments (Source: Significant Developments)

Orascom Development Holding AG announces settlement of disputes with Falcon Hotels
Monday, 23 Jun 2014 01:00am EDT 

Orascom Development Holding AG:Announces settlement of disputes with Falcon Hotels S.A.E.Amicable settlement to end disputes including litigation procedures and 4 arbitration proceedings in 2 jurisdictions.Settlement to positively reflect on results, to reverse previously formed provisions in amount of $60 million.As part of settlement, Falcon Hotels recognized right of Orascom to receive all revenues from Cape Citadel Hotel's operations.  Full Article

Orascom Development Holding AG to divest stakes in select non-core assets in Egypt with potential valuation range of 110-130 million Swiss francs
Sunday, 25 May 2014 11:09am EDT 

Orascom Development Holding AG:Says, through its Egyptian subsidiary Orascom Hotels & Development (OHD) and other subsidiaries in Egypt, it signed a memorandum of understanding (MoU) on May 24 with Egyptian Resorts Company (ERC).Says the MoU is to divest its majority stakes in select non-core assets in Egypt.The portfolio of assets targeted for sale includes three to four hotels and an undeveloped land bank in the Sahl Hasheesh area on the Red Sea.Says this portfolio does not include any assets of the Group's destination El Gouna.Pending an independent financial valuation, the transaction value is estimated at 110-130 million Swiss francs.Says ERC will pay for the transaction using cash proceeds from a capital increase and any remaining balance via issuing shares in ERC to Orascom.  Full Article

Orascom Development Holding AG appoints external auditors for FY 2014
Sunday, 18 May 2014 08:00pm EDT 

Orascom Development Holding AG:Announces the appointment of Deloitte AG, Zurich, as the company's external auditors for the fiscal year 2014.  Full Article

Orascom Development Holding AG announces no dividend payment for FY 2013
Tuesday, 13 May 2014 01:00am EDT 

Orascom Development Holding AG:Announces that the board of directors has decided not to pay any dividend for the fiscal year ending 2013.  Full Article

Orascom Development Holding AG gives FY 2013 outlook below analysts' estimates
Wednesday, 19 Mar 2014 02:00am EDT 

Orascom Development Holding AG:Expects to report 18-20 pct decrease in consolidated revenues for FY 2013 compared to same period of last year (FY 2012: 97 million Swiss francs net loss).Expects net loss in range of 145-160 million Swiss francs mainly due to challenging market environment caused by political instability in Egypt.Says main contributors to bottom-line loss are: reduced revenues, lower capitalization of financing costs, Egyptian Pound devaluation in addition to provisions, impairments of investments and reassessment of the recoverability of deferred tax assets.FY 2013 net income estimate -70.53 million Swiss francs - Thomson Reuters I/B/E/S.FY 2012 revenue 272 million Swiss francs.FY 2013 revenue estimate 251.86 million Swiss francs - Thomson Reuters I/B/E/S.  Full Article

Orascom Development Holding AG announces end of CEO's employment
Thursday, 27 Feb 2014 11:00am EST 

Orascom Development Holding AG:Announces it came to a joint decision with CEO - Gerhard Niesslein - to end his employment.Effective date is end of February.Samih O. Sawiris, founder and Chairman - will take over the responsibilities of CEO ad interim.  Full Article

Orascom Development Holding AG Establishes New Company for Hotel Asset Management
Tuesday, 5 Nov 2013 07:00pm EST 

Orascom Development Holding AG announced that it has signed a partnership agreement with Mr. Abdul Hamid Abu Yousef to establish a new company for hotel asset management named "Orascom Hotels Management". The company's stake in the new established company will be 75%, whereas 25% for Mr. Abu Yousef who will hold executive duties in the new company.  Full Article

Orascom Development Holding AG Establishes New Joint Venture
Monday, 4 Nov 2013 11:32pm EST 

Orascom Development Holding AG announced the establishment of a new joint venture with Abdelhamid Abouyoussef under the name of 'Orascom Hotels Management' (OHM) to asset manage the entire Group's hotels. The company will be 75% owned by Orascom Development and 25% owned by Abdelhamid Abouyoussef who will also be the Managing Partner of OHM.  Full Article

Orascom Development Holding AG Appoints New Acting Group Chief Financial Officer
Sunday, 14 Jul 2013 08:00pm EDT 

Orascom Development Holding AG announced that it has appointed Mr. Iskandar Adel Iskandar Tohma as the Company's new Acting Group Chief Financial Officer, to succeed Mr. Ahmad El Shamy, who has resigned as of August 31, 2013.  Full Article

Orascom Development Holding AG To Sell its Indirect 7.07% Stake in Nasr City Company for Housing & Development
Saturday, 29 Jun 2013 08:00pm EDT 

Orascom Development Holding AG announced that it has decided to offer its indirect 7.07% stake in of Nasr City Company for Housing & Development through its subsidiary Muryia Holding Group Ltd for sale at a price not less than EGP 20 per share.  Full Article

BRIEF-Orascom Development Holding H1 revenues up by 2% to CHF 120.6 mln

Aug 26 - Orascom Development Holding AG : * Says H1 net profit attributable to shareholders of CHF 31.5 million, after

Search Stocks