Last checked at 28 Apr 2016 14:20
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Extension of CIB - Beltone Share Purchase Agreement validity
Cairo, April 28, 2016: With reference to the announcement made by Orascom Telecom, Media and Technology ("OTMT") on April 14th, 2016, which included disclosing that CIB and Beltone Financial Holding have extended the validity of the signed SPA pertaining to the sale of the Bank's shares in CI Capital Holding ("CI Capital") to end on April 28th,2016, OTMT would like to announce that both parties have agreed today to further extend the SPA period for an additional 15 days commencing April 28th, 2016 until May 12th, 2016.
Such decision has been taken to eliminate all the obstacles that currently hinder obtaining the "no objection" certificate from the Egyptian Financial Supervisory Authority (EFSA).
OTMT will inform the market with any material event resulting from said acquisition process.
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About OTMT
OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Lebanon, Pakistan and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, Media and Technology, and Cable businesses, having recently expanded its lines of operations into the new fields of Energy, Transport & Logistics, and Telecom infrastructure. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The Cable business focuses on the management of cable networks. The new field of Energy includes its operations in the power projects in Egypt.
Press contacts:
Orascom Telecom Media and Technology: Investor Relations
2005A Nile City Towers - South Tower, 26th Floor - Corniche El Nile,
Ramlet Beaulac, Cairo, Egypt
E-mail: otmtinvestorrelations@otmt.com
Disclaimer
The distribution of this press release may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
This press release does not, and shall not, in any circumstances constitute a public offering of shares, or global depositary shares representing such shares, in OTMT ("OTMT Securities"), nor an invitation to the public in connection with any offer. The acquisition of the OTMT Securities may be subject to specific legal or regulatory restrictions in certain jurisdictions. OTMT takes no responsibility for any violation of any such restrictions by any person.