Statement Regarding Offer for 100% of EFG Hermes Holding SAE

In regard to comments made in the press today by a member of EFG Hermes Board of Directors, Planet IB issued the following statement:

  1. Prior to today’s Extraordinary General Meeting, Planet IB informed the Board of Directors of EFG Hermes of its intent to make a tender offer for 100% of EFG Hermes Holding SAE at a price of EGP 13.50 per share.
  2. If EFG Hermes is serious about entertaining a tender offer from Planet IB, it must immediately postpone the execution of the alternative transaction.
  3. Planet IB is prepared to extend a public tender offer immediately after the completion of customary due diligence. Planet IB therefore calls upon the Board of Directors of EFG Hermes Holding SAE to immediately open its books to due diligence.

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