OCI N.V. announced Wednesday that its subsidiary, Orascom Construction Industries S.A.E (OCIC.CA), will comply with the Egyptian Financial Supervisory Authority’s (EFSA) request for additional documentation, disclosures and clarification pertaining to the announced Mandatory Tender Offer (MTO) by OCI N.V. on its ordinary shares.
As per the request of EFSA, OCI S.A.E. will host another Extraordinary General Meeting (EGM) to discuss additional disclosures related to the transaction and to subsequently obtain approval on the EGM’s resolutions from minority shareholders. Once minority shareholders approve these resolutions, the EGM result will be ratified and an updated MTO application will be formally filed with EFSA.
Details on the EGM and the shareholder proxy statement will be made available in due course.
