OCI SAE to Convene OGM and EGM
OCI SAE to Convene OGM and EGM
CAIRO -- (Marketwired) -- 06/03/13 -- *T
Amsterdam, the Netherlands / 3 June, 2013 8:30 AM
OCI N.V.'s Subsidiary, OCI S.A.E, to Convene Ordinary and Extraordinary General Meetings
OCI N.V.'s subsidiary, Orascom Construction Industries (OCI S.A.E), announced today it is convening an Ordinary General Meeting (OGM) and an Extraordinary General Meeting (EGM), as per the request of the Egyptian Financial Supervisory Authority (EFSA), to allow its shareholders to vote on various resolutions pertaining to the Share Exchange Offer for its shares announced by OCI N.V.
OCI S.A.E shareholders should visit www.orascomci.com to access the proxy voting statements which include all resolutions in full and the General Meetings' agendas. The agenda includes a discussion of OCI S.A.E.'s tax settlement with the Egyptian Tax Authority (ETA), pertaining to the years 2007 - 2010, and the agreed-to paymentschedule. The agenda also includes a discussion of the intercompany loan between OCI N.V. and OCI S.A.E which allowed the latter to make the first payment related to the agreed-to tax settlement.
At present OCI S.A.E has received undertakings to convert in to OCI N.V. totaling 14,753,662 shares representing 30.7% of the total shares outstanding on the Egyptian Stock Exchange (EGX). These undertakings include institutional shareholders and large investors who confirmed their intention to convert ahead of the approval of the Share Exchange Offer.
OCI N.V. expects to resubmit the required tender offer documentation to EFSA for OCI S.A.E's shares listed on the EGX imminently.
Additional updates related to the Share Exchange Offer and the General Meetings will be communicated to the market in due course.
About OCI N.V.:
OCI N.V. is a global nitrogen-based fertilizer producer and engineering& construction contractor based in the Netherlands. The Fertilizer Group owns and operates nitrogen fertilizer plants in the Netherlands, the United States, Egypt and Algeria and has an international distribution platform spanning from the Americas to Asia. The Fertilizer Group ranks among the world's top fertilizer producers with a fertilizer production capacity of nearly 7 million metric tons. The Construction Group provides international engineering and construction services primarily on infrastructure, industrial and high-end commercial projects in the United States, Europe, the Middle East, North Africa and Central Asia for public and private clients. The Construction Group ranks among the world's top global contractors. OCI N.V. employs more than 75,000 people in 35 countries around the globe and is listed on the NYSE Euronext in Amsterdam.
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OCI N.V. stock symbols: OCI / OCI.NA / OCI.AS / OCINY
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