OCI Submits Additional Documentation for Demerger

From the Wires

Dec. 3, 2012 02:05 AM

CAIRO, EGYPT -- (Marketwire) -- 12/03/12 --




Cairo, Egypt / 2 December, 2012 8:30 AM

OCI Submits Additional Documentation for its Planned Demerger as
Requested by the Egyptian Financial Supervisory Authority (EFSA)

Orascom Construction Industries (OCI) announced today that it has
submitted additional documentation requested by the Egyptian Financial
Supervisory Authority (EFSA) with regards to the company's planned
demerger of its construction business from its fertilizer business. The
required documentation seeks to meet EFSA's request to issue shares for
the both the demerging and demerged companies simultaneously.

EFSA's request for documentation is a follow-up to OCI's request to
issue new shares for the demerging company following its capital
reduction. OCI continues to comply with any legal requests, submits
additional documentation promptly and addresses any clarifications that
EFSA may require in this matter.

To-date, OCI has submitted all supporting documentation to EFSA
pertaining to the demerger.

About Orascom Construction Industries

OCI is one of Egypt's largest corporations employing more than 90,000
people in 35 countries around the globe. The OCI Fertilizer Group owns
and operates nitrogen fertilizer plants in Egypt, the Netherlands, the
United States, and Algeria and has an international distribution
platform spanning from the Americas to Asia. The OCI Fertilizer Group
ranks among the world's top fertilizer producers with a production
capacity which will exceed 7.0 million metric tons in 2012. The OCI
Construction Group provides international engineering and construction
services primarily on infrastructure, industrial and high-end
commercial projects in Europe, the Middle East and North Africa for
public and private clients. The OCI Construction Group ranks among the
world's top global contractors.

For additional information contact: For additional information on OCI:
OCI Investor Relations Department:  www.orascomci.com

Omar Darwazah                       OCI stock symbols: OCIC.CA /
Email: omar.darwazah@orascomci.com  OCIC EY /OCICqL / ORSD / ORSCY

Erika Wakid                         Orascom Construction Industries
Email: erika.wakid@orascomci.com    (OCI)
                                    Nile City Towers - South Tower
Hassan Badrawi                      2005A Corniche El Nil
Director                            Cairo, Egypt

Tel: +202 2461 1036/0727/0917
Fax: +202 2461 9409





                    This information is provided by RNS
          The company news service from the London Stock Exchange

END

Contacts:
RNS
Customer
Services
0044-207797-4400
Email Contact
http://www.rns.com

Published Dec. 3, 2012— Reads 270
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
Syndicated stories and blog feeds, all rights reserved by the author.

About Marketwire .
Copyright © 2009 Marketwire. All rights reserved. All the news releases provided by Market Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Cloud Developer Stories

IBM Debuts Cloud Portfolio Targeted at C-Suite

By Jeremy Geelan

“The cloud opportunity is helping C-suite leaders reshape customer experience," said Paul Papas, Global Leader Smarter Commerce, IBM Global Business Services. “As part of IBM's digital front office strategy, we see these 100 cloud applications as a way for business leaders to imp...

Icahn Now Dell’s Largest Outside Stockholder

By Maureen O'Gara

Last Friday calm seemed to be descending on Round Rock, Texas. Reports were circulating that activist shareholder Carl Icahn was losing the stomach for scuttling the Michael Dell-Silver Lake Management plan to buy the company for $24.4 billion and take it private.

AMD Aims for the Cloud via Seattle, Berlin & Warsaw

By Maureen O'Gara

Over the weekend Barron’s put out a piece touting AMD’s chances of taking share in the mainstream server market that belongs to Intel with its SeaMicro microserver acquisition, a development that would tickle its tiny stock price, if it ever happened. But even the thought of it, ...

HP Removes Bradley as PC Chief

By Maureen O'Gara

Todd Bradley, the former Palm CEO who’s been running HP’s PC unit since 2005 and added printing last year when the Printing and Personal Systems (PPS) organization was formed, has apparently been pushed aside. He is trading his job running half of HP’s revenue for a newly creat...

Achilles Selects MetraTech for Billing and Settlement

By Elizabeth White

MetraTech Corp., a provider of Agreements-Based Billing, Commerce and Compensation solutions, on Tuesday announced that Achilles, a global software-as-a-service (SaaS) provider of supply chain management services, has selected the MetraNet billing and settlement platform to suppo...