Qalaa Holdings, (CCAP.CA on the Egyptian Exchange), an African leader in energy and infrastructure, announced today the completion by RSM Egypt, the Independent Financial Advisor (IFA), of the Fair Value report requested by Egypt’s Financial Regulatory Authority (FRA), valuing Qalaa Holdings’ equity at EGP 6.34 per share.
On April 24th 2018, the FRA had requested that Qalaa Holdings appoint an IFA to produce a Fair Value report of its shares. On Wednesday July 11th 2018, the selected IFA, RSM Egypt, submitted their report to the FRA. Following receipt of questions and comments by the FRA on Monday July 16th 2018, RSM Egypt submitted on Thursday July 19th their adjusted report incorporating the FRA’s feedback, valuing Qalaa Holdings’ equity at EGP 6.34 per share.
As per FRA regulations, the independent financial advisor’s summary report is posted on EGX screens and on Qalaa Holdings’ website. The executive summary of the report is enclosed here. To access the full summary report, please visit our website on: http://qalaaholdings.com/
Qalaa Holdings (CCAP.CA on the Egyptian Stock Exchange) is an African leader in energy and infrastructure. Formerly known as Citadel Capital, Qalaa Holdings controls subsidiaries in industries including Energy, Cement, Agrifoods, Transportation & Logistics, and Mining. To learn more, please visit qalaaholdings.com.
Statements contained in this News Release that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained herein constitutes “targets” or “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Citadel Capital may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties.
For more information, please contact:
Ms. Ghada Hammouda
Chief Marketing and Sustainability Officer
Citadel Capital (S.A.E.)
Tel: +20 2 2791-4439
Fax: +20 22 791-4448
Mobile: +20 106 662-0002