Kuoni Reisen Holding AG
Kuoni Travel Holding Ltd.: VFS Global wins key Saudi Arabian government visa services contract
Kuoni Reisen Holding AG / Key word(s): Miscellaneous 23.08.2012 06:50 Release of an ad hoc announcement pursuant to Art. 53 KR --------------------------------------------------------------------------- VFS Global and TasHeel Modern Support Services Co. Ltd., a local partner of VFS Global, have been awarded a contract to provide in a Joint Venture (50:50) visa services for the Kingdom of Saudi Arabia. This prestigious contract is the first one awarded in a global tender by the Ministry of Foreign Affairs, Kingdom of Saudi Arabia, started in 2009. Phased roll-out of operations will commence in December 2012 and will last up to 12 months. This is the largest contract for VFS Global - not just in terms of the size but also in terms of the scope of services to be provided. Although a significant influence over this joint venture exists, Kuoni does not control it in accordance with the requirements of IFRS. Consequently, this joint venture is financially recognized according to the equity method. Kuoni's share of the joint venture's annual net profit is presented as part of operating earnings (EBIT). VFS Global, a part of the Kuoni Group, manages the non-judgmental, administrative part of the visa application process for 38 sovereign governments across 83 countries, as at 30 June 2012. The company has successfully processed over 48 million applications, for visa, passport or other consular services, since its inception in 2001. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: FURTHER INFORMATION ANALYSTS AND INVESTORS LAURENCE BIENZ Head of Investor Relations Kuoni Travel Holding Ltd. Neue Hard 7 CH-8010 Zurich P +41 (0)44 277 45 29 laurence.bienz@kuoni.com 23.08.2012 News transmitted by EquityStory AG. The issuer is responsible for the contents of the release. EquityStory publishes regulatory releases, media releases on the capital market and press releases. The EquityStory Group distributes authentic and real-time financial news for over 1'300 listed companies. The Swiss news archive can be found at www.equitystory.ch/news --------------------------------------------------------------------------- Language: English Company: Kuoni Reisen Holding AG Neue Hard 7 8010 Zürich Switzerland Phone: +41 44 277 4529 Fax: +41 44 277 4031 E-mail: laurence.bienz@kuoni.com Internet: www.kuoni-group.com ISIN: CH0003504856 Swiss Security Number: 894861 Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; SIX End of Announcement EquityStory News-Service ---------------------------------------------------------------------------
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