29 May 2013       Download

In reply to your inquiry about the news circulating in Al-Alam Al-Youm newspaper regarding Citadel Capital's intention to begin investing USD 4 billion (representing Citadel Capital funds and the funds of co-investors) as well as the firm’s capital increase, we confirm that Citadel Capital's management has not yet submitted any official offers or documentation to obtain approvals from the Board of the Directors or the General Assembly of Shareholders for a capital increase.

Moreover, the aforementioned news is still subject to discussion, and if approved, the firm is committed to abiding by EGX’s Article 16 governing listing and delisting.