Further to its press releases of 7, 12 and 22 January 2016, ORCO PROPERTY GROUP (the “Company” or “ORCO”) announces that the total number of shares tendered in the Company’s sales facility amounts to 2,557,702 (the “Tendered Shares”). The Tendered Shares, tendered in the sale facility procedure by 25 intermediaries, represent approximately 0.8% of the total number of Company shares.
The Tendered Shares will be sold as from 4 February 2016 on the Luxembourg Stock Exchange (the “LuxSE”) at the market price at the time of the sale after the centralization of the sell orders by CACEIS (intermediary in charge of selling the Company shares on the LuxSE). These sales can be made in several times depending on the liquidity on the LuxSE and this sale process will continue until all the Tendered Shares are sold. The average price of the Tendered Shares sold for the account of the respective shareholders will be calculated by CACEIS and the proceeds, which the respective shareholders will receive, will be equal to this average price (i.e. all sales facility participants will receive the same price per Tendered Share). The brokerage fee related to the sale of the Tendered Shares in the sales facility on the LuxSE will be borne by Company.
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