Announcement Regarding the Name Change and Transfer of Shares of ORIX Leasing Egypt SAE in Egypt
Nov 12, 2019
TOKYO, Japan – November 12, 2019 – ORIX Corporation (“ORIX”) announced today that ORIX Leasing Egypt SAE (“OLE”), its local affiliate in Egypt, has changed its name to Sama Finance SAE; the ORIX Group has also agreed to transfer its shares in OLE.
1. Purpose of name change and transfer of shares
OLE is a leasing company established in 1997 through the joint investment of ORIX, its local affiliate in Pakistan, ORIX Leasing Pakistan (“OLP”), local financial institutions, and other parties. By effectively utilizing the Japanese and overseas trading networks of the ORIX Group, ORIX has worked to grow OLE and increase its corporate value.
In view of OLE’s future growth strategy and of ORIX’s investment policy, OLE has changed its name to Sama Finance SAE; the ORIX Group is also scheduled to transfer all the shares it owns in OLE to the principal shareholder, Al Hail Holding.
2. Number of shares transferred
920,000 shares (23.0% of shares issued, which is all the shares held by ORIX)
3. Schedule of transfer
Effective date of transfer: November 28 (scheduled)
|Name||ORIX Leasing Egypt SAE|
|Head office location||Egypt|
|Date of establishment||June, 1997|
|Representative||Aijaz A. Butt|
|Description of business||Leasing, Automobile Leasing|
|Major shareholders and their
|Al Hail Holding 54.0%, ORIX 23.0%, ORIX Leasing Pakistan 23.0%|
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is a financial services group which provides innovative products and services to its customers by constantly pursuing new businesses.
Established in 1964, from its start in the leasing business, ORIX has advanced into neighboring fields and at present has expanded into lending, investment, life insurance, banking, asset management, automobile related, real estate and environment and energy related businesses. Since entering Hong Kong in 1971, ORIX has spread its businesses globally by establishing locations in 37 countries and regions across the world.
Going forward, ORIX intends to utilize its strengths and expertise, which generate new value, to establish an independent ORIX business model that continues to evolve perpetually. In this way, ORIX will engage in business activities that instill vitality in its companies and workforce, and thereby contribute to society. For more details, please visit our website: https://www.orix.co.jp/grp/en/
(As of March 31, 2019)
Caution Concerning Forward-Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results that differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under “Risk Factors” in the Company’s annual report on Form 20-F filed with the United States Securities and Exchange Commission and under “(4) Risk Factors” of the “1. Summary of Consolidated Financial Results” of the “Consolidated Financial Results April 1, 2018 – March 31, 2019.
- View PDF of this release