Cairo — Orascom Construction Industries on Jan. 29 submitted a formal request to the Egyptian Financial Supervisory Authority (EFSA) to ask for approval to call for an Extraordinary General Meeting (EGM) to obtain shareholder approval for the proposed demerger of the company’s construction business from its fertilizer business (GM Jan. 2, 2012). Once approved, OCI said it would call for an EGM and circulate all the information required for shareholders to vote on the demerger. Upon the completion of the demerger, OCI will continue to be listed on the Egyptian Stock Exchange (EGX), and its Global Depository Receipts (GDRs) will continue to be listed and traded on the London Stock Exchange (LSE). The demerged construction business company will be listed on the EGX, and its GDRs are expected to be simultaneously listed on the LSE.
Transparency Across the Fertilizer Value-Chain