Egyptian tourism investor Hamed El Chiaty, announced that he has increased his stake in TUI AG, the leading German-based European travel conglomerate, to 3.01 percent. “This investment in our company is proof of the faith in TUI’s growth prospects.” said TUI Chief Executive Officer Dr. Michael Frenzel.
El Chiaty’s stake in TUI AG, has now exceeded the threshold of 3% of voting rights and at that time amounts to 3.01% corresponding to 7,572,440 voting rights of which 2,514,440 are held by El Chiaty and 5,058,000 by the Brierly Gardens Investments Limited, Chrysanthou Mylona, 3, PC 3030, Limassol, Cyprus (CEO Hamed El Chiaty) directly held and Lawson International Investments Ltd., Omar Hodge Building, no Wickham Cay 1, Road Town, Tortola, British Virgin Islands, pursuant to § 22 section 1 p. 1 No. 1 securities trade act (WpHG) and Olive Yard Holdings Limited, Road Town, Tortola, British Virgin Islands, pursuant to § 22 section 1 p. 1 No. 1 securities trade act (WpHG).
The TUI executive board initially welcomed the Egyptian investor Hamed El Chiaty as shareholder of TUI AG as of March 2007.
Hamed El Chiaty is the founder and Chairman of Travco Group, the Middle East’s leading leisure Group. El Chiaty was named Tourism Pioneer by the Egyptian Ministry of Tourism for his role in developing tourism in Egypt particularly for his efforts in promoting tourism to Egypt’s North Coast with his Mega Resort complex, Almaza Bay. Following a presidential decree, El Chiaty was appointed by the Ministry of Tourism as a member of Egypt’s Supreme Council of Tourism.
