Orco Property Group : Board of Directors taking act of the Extraordinary General Meeting convening request
Paris April 6TH , 2010 - The Board of Directors of Orco Property Group S.A., chaired by Jean-François Ott, has taken act of the request to convene an Extraordinary General Meeting (EGM) with a shareholders concert composed of Millenius Investments SA, Clannathone Stern SA and Bugle Investments Ltd hold 10.09% of voting rights. The Board of Directors shall therefore convene an EGM therefore be held on April 26th, 2010 at 4m in Capellen, Luxemburg.
This concert of shareholders wants to relieve the present Directors from their duties to replace them by a new team to be chaired by Mr. Jean-Pierre Mattei.
The Board underlines the hostile character of this intention, which was not preceded by any contact between the company management and representatives of the concert. Given the current context, the Board is surprised by such unfriendly and opportunistic process, which is detrimental to the interests of the Company, its teams, its business partners and shareholders.
The Board reiterates its full confidence in the Management, who has put forward a comprehensive restructuring plan which should now be now peacefully executed.
On April 6, 2010, the Board of Directors of Orco Property Group SA
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