Orco Property Group : OPG reference PR 23.9.2016
September 23 2016 - 2:07AM
Press Release
Luxembourg, 23 September
2016
ORCO PROPERTY
GROUP - Reference to press release of CPI Property Group concerning
the appointment of an independent expert within the context of the
mandatory takeover bid over ORCO PROPERTY GROUP shares.
ORCO PROPERTY GROUP refers its
shareholders to a press release published on 22 September 2016 by
CPI PROPERTY GROUP: "CPI PROPERTY GROUP ANNOUNCEMENT OF THE
APPOINTMENT OF AN INDEPENDENT EXPERT WITHIN THE CONTEXT OF THE
MANDATORY TAKEOVER BID BY NUKASSO HOLDINGS LIMITED OVER ANY AND ALL
THE ORDINARY SHARES IN ORCO PROPERTY GROUP S.A.", which is copied
below in its entirety:
***
"CPI PROPERTY GROUP ANNOUNCEMENT
OF THE APPOINTMENT OF AN INDEPENDENT EXPERT WITHIN THE CONTEXT OF
THE MANDATORY TAKEOVER BID BY NUKASSO HOLDINGS LIMITED OVER ANY AND
ALL THE ORDINARY SHARES IN ORCO PROPERTY GROUP S.A.
CPI PROPERTY GROUP announces on
behalf of its wholly owned subsidiary Nukasso Holdings Limited the
appointment by the CSSF of PricewaterhouseCoopers société cooperative (Luxembourg) represented by Mr
Grégoire Huret as the independent expert for the determination of
the equitable price to be offered to the shareholders of ORCO
Property Group S.A. in the context of the mandatory takeover bid by
Nukasso Holdings Limited and the persons acting in concert with it
over any and all of the ordinary shares in ORCO Property Group
S.A.
CPI PROPERTY GROUP société anonyme hereby announces on behalf of its
wholly owned subsidiary Nukasso Holdings Limited and the persons
acting in concert with it (the "Bidders") the
appointment by the Commission de Surveillance du Secteur Financier (the "CSSF") on 22 September 2016 of PricewaterhouseCoopers
société cooperative
(Luxembourg) represented by Mr Grégoire Huret as the
independent expert (the "Valuation Expert")
for the determination of the equitable price to be offered to the
shareholders of ORCO Property Group S.A., a public limited
liability company (société anonyme)
incorporated under the laws of Luxembourg and registered with the
Luxembourg Trade and Companies Register (RCS) under number B 44 996
("ORCO") in the context of the mandatory
takeover bid (the "Mandatory Bid") over any
and all of the ordinary shares of ORCO (the "ORCO Shares"). This press release
is to be read together with the press release by the Bidder dated 5
August 2015.
The respective engagement letter
containing the terms and conditions of the Valuation Expert's
mandate was signed by CPI Property Group S.A. and the Valuation
Expert on 21 September 2016 after being reviewed by the CSSF.
The final valuation report shall
be submitted to the CSSF on or by 7 November 2016 and shall be
annexed to the Offer Document to be published on or by such date,
subject to the CSSF approval of the Offer Document. Should the
Valuation Expert not be in a position to provide the above
mentioned valuation report within the above referred-to deadline,
the Valuation Expert must provide the CSSF with a written
explanation.
The valuation report will take 8
June 2016 as the valuation date and will be reviewed for any known
and material events or circumstances impacting the valuation
opinion of the Valuation Expert arising between the valuation date
and the date of the Offer Document.
Any further modification to the
calendar of the Mandatory Bid, if necessary, and any modification
to the schedule of the bid will be made public by CPI Property
Group société anonyme and ORCO under the
Luxembourg law of 11 January 2008 on transparency requirements for
issuers, as amended."
***
For more information, visit
www.orcogroup.com
OPG reference PR
23.9.2016
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Orco Property Group via Globenewswire
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