Ex-president Mohamed Morsi issued a statement on his official Facebook page saying that the Wednesday military announcement amounts to a coup.

"The procedures announced by the general command of the armed forces represents a full coup d’etat that is completely unacceptable," the statement asserted.

In spite of the military’s Wednesday presser, which announced that the head of the High Constitutional Court will take over power until early presidential elections are held, Morsi’s statement stressed that he remains the head of state and the supreme commander of the armed forces.

Morsi further called on all "all civil and military citizens to abide by the constitution and the law and to not respond to this coup, which drives Egypt backward." He also demanded that citizens remain peaceful and avoid bloodshed.

On late Wednesday, Minister of Defence Abdel-Fatah El-Sisi announced the finalisation of a road map created in collaboration with the opposition which includes the ousting of president Mohamed Morsi and the scheduling of early presidential elections.