ORCO PROPERTY GROUP - Extraordinary General Meeting of Shareholders held on 2 May 2016
An extraordinary general meeting of the shareholders of ORCO PROPERTY GROUP (the
“Company”) was held on 2 May 2016 in Luxembourg in front of a notary public (the "Extraordinary
Meeting"), with approximately 63.7 percent of the share capital present or represented, thus
meeting the quorum required to hold an extraordinary general meeting of the shareholders.
The Extraordinary Meeting resolved to decrease the corporate capital of the Company from the
amount of EUR 31,450,762.90 to EUR 3,145,076.29 without cancellation of shares, by decreasing
the accounting par value of the existing shares from EUR 0.10 to EUR 0.01 per share, without
distribution of the reduction proceeds to the shareholders of the Company, such reduction proceeds
being allocated to a non-distributable reserve of the Company. The purpose of such decrease of the
share capital is to adapt the share capital and the accounting par value of shares to the prevailing
market situation, notably the Company’s share price.
The Extraordinary Meeting also approved the report issued by the board of directors relating to the
possibility for the board of directors of the Company to cancel or limit preferential subscription rights
of the shareholders of the Company upon increases of share capital in the framework of the
authorised share capital of the Company.
The Extraordinary Meeting further approved resolution to modify, renew and replace the existing
authorised share capital of the Company and to set it to an amount of twenty million euro (EUR
20,000,000) for a period of five (5) years from 2 May 2016, which would authorize the issuance of
up to two billion (2,000,000,000) new ordinary shares in addition to the 314,507,629 shares
Finally the Extraordinary Meeting approved the modifications of the Company’s articles of
association in relation to the above resolutions.
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