REG - EFG-Hermes Holdings - Oman Exit

EFG Holding SAEAnnouncement

11/04/2023 08:45

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RNS Number : 7922V  EFG-Hermes Holdings SAE  11 April 2023

 

 

 

 

EFG Hermes Exits Oman

 

 

 

 

Cairo, April 11(th) , 2023:

Pursuant to our disclosure on the 17(th) of January 2023, which accentuated
our intension to exit three markets, in an efforts to drive shareholders'
value by simplifying our operations, re-directing our resources and improving
our return on equity metric. EFG Hermes announces that it has completed its
exit from Oman. However, EFG Hermes will continue to serve its institutional
clients base by executing trades indirectly, providing select research
coverage, and pursuing Investment banking activities through its regional
hubs.

EFG Hermes remains strongly committed to the remaining core markets in which
it operates, and we do not expect to exit any other market apart from Jordan
and Pakistan, which we highlighted in our earlier disclosure in January. In
addition, the exit will have a minimal impact on our 2023 financial
statements.

 

 

 

 

For further information:

Investor Relations Department

Email: investor-relations@efg-hermes.com

Tel: +20 (0)2 35356710

Fax: +20 (0)2 3535 7017

 

Head of Corporate Strategy & Investor Relations - Hanzada Nessim

Email: hnessim@efg-hermes.com

Tel: +20 (0)2 35356502

Fax: +20(0)2 3535 7017

www.efg-hermes.com

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