Melinda Gates, the ex-wife of the famous American billionaire Bill Gates, the founder of Microsoft, sold her stake in the UAE company Orascom Construction PLC, in which the Sawiris family owns the largest stake.
Prior to the completion of the transaction, Melinda Gates owned approximately 5.58% of the shares of the Emirati company Orascom Construction Plc, which is owned by the Sawiris family and 51.8% owned organizations, Nassef Sawiris and 51.8% owned organizations 34.48%, Samih Sawiris by 11.8%, Naguib Sawiris and his organizations by 5.52%, in addition to the Alpha Sustainable Capital Fund for Africa with a share of 16.16%.
And today, Tuesday 6 June 2023, Orascom Construction PLC announced on the Egyptian Stock Exchange that it has fulfilled the decision of its AGM held on 31 May 2023 to purchase 6,517,444 of its shares. which is 5.58% of the total number of shares of the issuing company at a price of 3. US dollars per share.
After Melinda Gates sold her stake in the company, the share of the Sawiris family and its structures increased to 54.86%. Nassef Sawiris and his organizations own from 34.48% to 36.52%, Samih Sawiris from 11.80% to 12.50%, Naguib Sawiris and his organizations from 5.52% to 5.84%, in addition to increasing share of the Alpha Sustainable Capital Fund for Africa by 16.16% to 17.12%.
The company said that the number of shares in issue will remain at 116.7 million shares and the number of shares outstanding will decrease to 110.243 million shares on the condition that these shares of 6.517 million shares are written off over a period of 3 to 12 months. and they will be held as safe stock until written off, with the obligation to deliver long-term returns to shareholders.
Melinda Gates is the ex-wife of the famous American billionaire Bill Gates, founder of Microsoft International and one of the world’s largest rich people, former director of several Microsoft products, including Microsoft Office Publisher and Microsoft Pub in 1994 and co-founder of the Bill & Melinda Gates Foundation in December 2005 , and she and her husband, musician Bono, were chosen as Time magazine’s “People of the Year”.
Source: Cairo 24
