Release regarding CICH final court verdict

RNS Number : 8518V

Commercial Intnl Bank (Egypt) SAE

20 April 2016

 

RELEASE

Cairo - April 20^th, 2016 - In reference to the Bank's release dated April 14^th, 2016 regarding the Egyptian Financial Supervisory Authority (EFSA) decision to postpone announcing its final decision regarding the approval request related to the acquisition transaction of 99.98% of CI Capital Holding ("CI Capital"), Commercial International Bank (Egypt) would like to announce that the Egyptian Court of Cassation has ruled its final verdict in favor of CIB regarding the appeal number 9565 for Judicial year 85, appealing the verdict number 550 for Cairo Economic Judicial year 4 which obliged Commercial International Bank to submit an Mandatory Tender Offer for the claimants shares' in CI capital.

With this final ruling in favor of CIB, and as the Bank has fulfilled its role in eliminating the reason for which the EFSA has decided to postpone announcing its decision regarding the acquisition transaction on CIB's side, the Bank will address the EFSA with the aforementioned.

CIB will inform the market with any material event resulting from said acquisition process.

END OF RELEASE

 

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MSCURRKRNNASUAR