Orco Property Group : Orco Property Group : Extraordinary and Ordinary General
Meetings of Shareholders
Luxembourg, 4 February 2013
Orco Property Group
Extraordinary and Ordinary General Meetings of Shareholders
An extraordinary general meeting of shareholders of Orco Property Group S.A.
(the "Company") was held on 4 February 2013 in Luxembourg (the "Extraordinary
Meeting"), with approximately 64% percent of the voting rights present or
represented, meeting the quorum required to hold an extraordinary general
The Extraordinary Meeting voted to decrease the corporate capital of the
Company from its previous amount of EUR 442,147,944.20 to EUR 215,681,924
without cancellation of shares, by decreasing the accounting par value of the
existing shares from EUR 4.10 to EUR 2 per share. The Extraordinary Meeting
also approved the corresponding changes to the Company's articles of
The proposed resolutions concerning the authorized capital and the possibility
to limit shareholders' preferential subscription rights were not passed.
An ordinary general meeting of shareholders of the Company was also held on 4
February 2013 in Luxembourg (the "Ordinary Meeting"), with approximately 64%
percent of the voting rights present or represented.
The Ordinary Meeting voted to remove Mr. David Ummels as director of the
Company and acknowledged the resignations of Mr. Bertrand des Pallieres and
Mr. Benjamin Colas.
By a vote of 97.2% of the votes cast, the Ordinary Meeting elected the
following as new members of the board of directors as of 4 February 2013 and
until the annual ordinary general meeting to be held in 2013 to approve the
annual accounts of the Company for the financial year 2012:
Mr. Guy Shanon of Kingstown Capital Management, LP
Mr. Ian Cash of Alchemy Special Opportunities LLP
Mr. Alex Leicester of Alchemy Special Opportunities LLP
Mr. Radovan Vítek of Crestline Ventures Corp. and Gamala Limited
Mr. Martin Nemecek of Crestline Ventures Corp. and Gamala Limited
Mr. Jirí Dedera of Crestline Ventures Corp. and Gamala Limited
Together with Chairman Jean-François Ott, Alexis Juan, Bernard Kleiner,
Nicolas Tommasini and Guy Wallier, the board of directors is now comprised of
Jean-François Ott stated: "We thank our outgoing board members for their
service and wish them continued success. We welcome our new board members who
reflect the new shareholding of the company and look forward to working with
For more information, visit our shareholder corner on www.orcogroup.com .
OPG: Extraordinary and Ordinary General Meetings of Shareholders
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Orco Property Group via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.