Orco property group : additional information following the publication of the convocation for the Ordinary General meeting
Orco Property Group will propose 3 candidates representing its main shareholders, as members of the Board
As announced in the convening notices (convocation for the Ordinary General meeting), Orco Property Group informs that the appointment as directors of three representatives of its main shareholders will be proposed during the next Shareholders Meeting which will be held on July 8th in Luxembourg.
Czech companies Prosperita Holding, Prosperita and Geofin AS representing SPMB (the investment vehicle of Martin Burda). As of today, Prosperita Investment holds 5,02 % of the shares and voting rights. Geofin AS holds itself 2,66% of the shares and voting rights.
The Board of Directors of Orco Property Group considers it is natural that, as main shareholders of the Group, Prosperita and Martin Burda represented by Geofin As, are given the opportunity to bring at the Board level, their expertise as investors. The Board of Directors of Orco Property Group accordingly proposes that Prosperita will have two board seats and Geofin as (Martin Burda) one seat.
In total, the Board of Directors of Orco Property Group will count 14 members, without any change of control:
- 5 directors representing the managers of the Group: Jean-François Ott, Nicolas Tommasini, Ales Vobruba, CEREM S.A* and Ott&Co S.A*
- 5 independent** directors: Silvano Pedretti, Guy Wallier, Pierre Cornet, Robert Kleiner, Alexis Juan
- 4 representing shareholders: Robert Coucke, Geofin a.s (company controlled by Martin Burda) and 2 directors representing Prosperita.
This Board, enlarged and enriched with new expertises, will constitute a stable team which will represent all the shareholders in Orco Property Group.
Orco Property Group is pursuing with determination and confidence its exclusive negotiations with Colony Capital till June 22nd.
* represented by Mr Jean-François Ott
** as per the European Commission Recommendation of 15 February 2005.
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