Sequence No: 22/2020
ISIN: AEDFXA14NUL7PUBLISHED ON SEPTEMBER 27, 2020 BY ORASCOM CONSTRUCTION PLC

Following the appointment of Ms. Nada Shousha as a non-executive independent director at an Extraordinary General Meeting held on 17 September 2020 (appointment effective on the same date), and in compliance with APP2 Rule 2.3 of the Market Rules:

(a)   The directorships of Ms. Nada Shousha are as follows:

·       Vice Chair and Investment Committee Member of the Egyptian American Enterprise Fund (current)

·       Board Member and Chair of the Risk Committee of Bank of Palestine (current)

·       Board and Audit Committee Member of AXA Egypt (current)

·       Board and Remuneration Committee member of MS Pharma (current)

·       Board Member and Chair of the Audit Committee of Dawi Clinics (current)

·       Member of the Investment Committee of Sawari Ventures (current)

(b)   The experience of Ms. Shousha is as follows: a seasoned executive in the financial services, investment and economic development sectors. She currently holds positions on various Boards (listed above) and was most recently the Regional Manager for Egypt, Libya and Yemen for the IFC, which she joined in 2002. During her tenure, Egypt’s IFC program increased from a $50-$75 million annual program to an annual average of $250+ million. In particular, she led IFC’s counter-cyclical strategy post Arab Spring which focused on restoring confidence in the country’s private sector and resulted in over $1 billion of new investments in the country in 2012-2014. Prior to joining IFC, Ms. Shousha was a manager in the corporate finance practice at Arthur Andersen.

(c)    Details of the process by which the Director was selected: Ms. Shousha was nominated by the OC PLC Nomination Committee and Board of Directors, and confirmed by shareholders at the Extraordinary General Meeting on 17 September 2020.

(d)  As for (d), (e), (f) and (g), it is confirmed that none of them are applicable.

 

Contact Investor Relations

Hesham El Halaby
Director
[email protected]
[email protected]
+971 4 318 0900
www.orascom.com

Appointment of New Director - Nada Shousha