ORCO PROPERTY GROUP S.A. (the "Company") informs that on 24 September 2014 it entered into an agreement for the subscription of 65,957,446 new ordinary shares (the "New Shares") to be issued by CPI PROPERTY GROUP ("CPI PG") at the subscription price of EUR 0.47 per share, which is approximately 12% below the current market price of EUR 0.53. The Company paid an aggregate subscription price of EUR 30,999,999.62 and the New Shares were issued by CPI PG today.
Following this share issue the Company's direct shareholding in CPI PG increased from 2.80% represented by 81,644,192 shares to 4.94% represented by 147,601,638 shares in CPI PG. In addition, the Company's subsidiary Brilliant 1419 GmbH & Co. Verwaltungs KG holds 11,531,259 shares in CPI PG representing 0.39% of CPI PG shareholding. As such, the aggregate direct and indirect shareholding of the Company in CPI PG amounts to 5.33% as of today.
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