Orascom Development Holding AG (ODHN.S) Key Developments | Reuters.com
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Orascom Development Holding AG (ODHN.S)

ODHN.S on Swiss Exchange

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24 Jun 2016
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Latest Key Developments (Source: Significant Developments)

Orascom Development Holding swings to net loss of CHF 26.4 mln in Q1
Thursday, 19 May 2016 12:31am EDT 

Orascom Development Holding AG : Q1 revenue from continuing operations 61.2 million Swiss francs ($61.96 million) versus 74.8 million Swiss francs year ago .Q1 net loss 26.4 million Swiss francs versus profit 3.4 million Swiss francs year ago.  Full Article

Orascom Development sees Q1 net loss of CHF 26-28 million
Monday, 16 May 2016 01:09am EDT 

Orascom Development Holding AG : Expects to report a 17-20 pct decrease in its consolidated revenues for Q1 2016 compared to same period last year .Expects a net loss in range of 26-28 million Swiss francs compared to a net profit of 3.4 million Swiss francs ($3.48 million) in Q1 2015.  Full Article

Orascom Development Holding announces results of rights offering
Monday, 14 Dec 2015 12:55pm EST 

Orascom Development Holding AG:Announced on Monday results of rights offering.Offering will increase equity capital by 133.8 million Swiss francs, thereof 49.6 million Swiss francs from gross cash proceeds and 84.2 million Swiss francs from conversion of loan from major shareholder into equity.Until the end of subscription period 66.6 pct of the subscription rights were exercised.Shares for which rights were not exercised were purchased by Samih O. Sawiris, through controlled entity (SOS Holding), for an aggregate amount of 44.7 million Swiss francs.As result of transaction, Samih O. Sawiris personally and through controlled entities, will now own 72.6 pct of all issued shares of the company.  Full Article

Orascom Development Holding announces details of rights offering
Thursday, 3 Dec 2015 01:00am EST 

Orascom Development Holding AG:Announces details of rights offering.Set offer price at 11.28 Swiss francs per share.Subscription rights must be exercised between Dec. 8 and Dec. 14.Listing and first trading day of new registered shares on Six Swiss Exchange is expected to occur on Dec. 16.Equity of the Company, before deducting transaction fees, will be increased by 133.8 million francs: increase will come from gross cash proceeds of 49.6 million francs and conversion of a loan from major shareholder of 84.2 million francs into equity.  Full Article

Orascom Development Holding appoints new CEO
Monday, 30 Nov 2015 01:00am EST 

Orascom Development Holding AG:Board of Directors announces that it has appointed Khaled Bichara as new CEO effective Jan. 1, 2016.  Full Article

Orascom Development Holding's unit signs $20 mln sub-development agreement in Egypt
Wednesday, 9 Sep 2015 12:00pm EDT 

Orascom Development Holding AG:Orascom Hotels and Development (OHD), group's largest, Egyptian subsidiary signs $20 million sub-development agreement in El Gouna, Egypt.  Full Article

Orascom Development Holding gives H1 2015 outlook
Monday, 17 Aug 2015 01:00am EDT 

Orascom Development Holding AG:H1 2015 revenues are expected to grow by 35-40 pct compared to H1 2014 and adjusted EBITDA is expected to be within range of 46.5 million Swiss francs to 47.5 million Swiss francs.  Full Article

Orascom Development Holding signs preliminary contract with Montenegro for long-term lease of 'Lastavica Island'
Wednesday, 25 Feb 2015 01:00am EST 

Orascom Development Holding AG:Signs preliminary contract with the government of Montenegro for the long-term lease of the 'Lastavica Island' with the 'Mamula Fortress' in the Bay of Kotor, Montenegro.Preliminary contract provides for a 49-year lease period.Investment in Mamula Project is planned to take place via a joint venture company for which financing has been fully secured between Samih O. Sawiris and ODH.  Full Article

Orascom Development Holding AG completes sale of 15 pct stake of Orascom Hotels and Development
Monday, 5 Jan 2015 01:00am EST 

Orascom Development Holding AG:Says successfully completes sale of 15 percent stake of its Egyptian subsidiary, Orascom Hotels and Development.Offering was oversubscribed 3.8x and generated 506.1 million Egyptian pounds(approximately $70.7 million, 69.9 million Swiss francs).  Full Article

Orascom Development Holding AG to offer 10-15 pct of its Egyptian subsidiary
Thursday, 11 Dec 2014 01:00am EST 

Orascom Development Holding AG:Filed with Egyptian Stock Exchange (EGX) to offer 10-15 pct of its Egyptian subsidiary, Orascom Hotels and Development (OHD).OHD's board of directors approved offering of 10 to 15 pct of its Egyptian subsidiary at a total equity value of 3.37 billion Egyptian pounds (approx. $470 million or 455 million Swiss francs).10-15 pct will be sold at a consideration of 15.20 Egyptian pounds (approx. $2.12, 2.06 Swiss francs) per share.  Full Article

BRIEF-Orascom Development Holding swings to net loss of CHF 26.4 mln in Q1

* Q1 revenue from continuing operations 61.2 million Swiss francs ($61.96 million) versus 74.8 million Swiss francs year ago