Crestline Ventures Corp. and Gamala Ltd. Together Acquire a 20.69 % Interest in Orco Property Group
October 18 2012 - 11:42AM
Business Wire
Regulatory News:
Crestline Ventures Corp. and Gamala Ltd. announce today that,
pursuant to successive acquisitions, they have respectively
acquired 12,056,281 shares and 10,264,208 shares, corresponding to
a joint minority interest of 22.3 million shares, in Orco Property
Group (ISIN: LU0122624777 - ORC), representing 20.69 percent of the
company’s issued share capital and voting rights.
Pursuant to these acquisitions, Crestline Ventures Corp. and
Gamala Ltd., acting in concert, should be the largest shareholder
of Orco Property Group.
Crestline Ventures Corp. and Gamala Ltd. may consider acquiring
additional shares of Orco Property Group on the market, depending
on the stock price. Crestline Ventures Corp. and Gamala Ltd. would
make public disclosures in accordance with applicable laws in the
event that they intend to take the control of Orco Property
Group.
This investment, made in a friendly and long term perspective,
reflects Crestline Ventures Corp. and Gamala Ltd.'s confidence in
the current growth strategy of Orco Property Group. Crestline
Ventures Corp. and Gamala Ltd. will work alongside the current
management team in connection with the company’s strategy on its
development and investment projects.
Crestline Ventures Corp. and Gamala Ltd. will request for a
representation on the Board of Directors of Orco Property
Group.
About Crestline Ventures Corp. and Gamala Ltd.:
Crestline Ventures Corp. is a company incorporated in the
British Virgin Islands. Its registered office is located P.O. Box
3159, Road Town, Tortola, British Virgin Islands.
Gamala Limited is a company incorporated in Cyprus. Its
registered office is located Akropoleos, 59-61 Savvides building,
Flat/Office 102, 2012 Nicosia, Cyprus.
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