Patria.cz is carrying an interview with Jean-Pierre Mattei, who’s leading the charge against Orco’s current board of directors. There’s not so much that’s new in it, but the tone is definitely not one of compromise.
Patria.cz: Could you please specify more the share of the voting rights in Orco Property Group which the group of shareholders You represent has available?
We stated that we represent 10% since this is the threshold for calling a General Assembly. We won’t go into further details than this but can tell you that we represent a combination of longtime shareholders and some newer investors (family offices, investors etc) that share similar concerns over the need for the company to address its debt issues. Addressing the debt issue is clearly all shareholder s’ interest.
Patria.cz: Is Millenius Investments, which reportedly holds 7.74% in Orco, among the participants in Your association?
Yes, Millenius is one of a number of shareholders seeking the appointment of a new Board.
Patria.cz: If the current management of the company stays, what is at stake for Orco?
So far the CEO has failed to address the debt issue and what is really at stake is Orco’s debt reduction and therefore its capacity to survive. The final objective of our initiative is to create value for all the shareholders.
Full interview here.