Reference to ORCO Germany press release regarding sequestered shares hearing date
Paris, 16 December 2013 - Orco Property Group S.A. refers its shareholders to the press release “ORCO Germany obtains hearing date regarding sequestered shares” issued by its subsidiary ORCO Germany S.A. on 13 December 2013 that can be found at www.orcogermany.de and is set forth in its entirety below:
ORCO Germany obtains hearing date regarding sequestered shares
On 11 December 2013, ORCO Germany, S.A. (“OG”) filed a request with the Tribunal de et à Luxembourg (“Tribunal”) seeking to overturn the summary court order that was obtained pursuant to the unilateral request of ORCO Property Group, S.A.’s (“OPG”) shareholders Alchemy Special Opportunities Fund II LP (“Alchemy”), Kingstown Partners Master Ltd., Kingstown Partners II LP, Ktown LP, and Forum Funds Absolute Opportunity Fund (collectively “Kingstown”).
This summary court order sequestered the 114,600,000 OG shares issued to Tandis, a.s., a company affiliated with Mr. Radovan Vitek following a capital increase at a price of EUR 0.47/share for a total contribution of EUR 53,862,000.
Pursuant to the Tribunal’s order dated 13 December 2013, a hearing will be held before the
Tribunal on this matter on 19 December 2013.
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