DGAP-News

CPI PROPERTY GROUP announces on behalf of its wholly owned subsidiary Nukasso Holdings Limited the appointment of an independent expert for the determination of the equitable price to be offered to the shareholders of ORCO Property Group S.A. within the c

DGAP-News: CPI PROPERTY GROUP / Key word(s): Miscellaneous
CPI PROPERTY GROUP announces on behalf of its wholly owned subsidiary
Nukasso Holdings Limited the appointment of an independent expert for the
determination of the equitable price to be offered to the shareholders of
ORCO Property Group S.A. within the context of the mandatory takeover at the
request of the CSSF

05.08.2016 / 14:01
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE
Luxembourg, 5 August 2016

CPI PROPERTY GROUP announces on behalf of its wholly owned subsidiary
Nukasso Holdings Limited the appointment of an independent expert for the
determination of the equitable price to be offered to the shareholders of
ORCO Property Group S.A. within the context of the mandatory takeover at
the request of the CSSF

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 of an independent 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"), further to a request of the Commission de
Surveillance du Secteur Financier (the "CSSF") on 1 August 2016, in the
context of the mandatory takeover bid (the "Mandatory Bid") over any and
all of the ordinary shares of ORCO (the "ORCO Shares"), referred to in the
press release published on 8 June 2016 by CPI PROPERTY GROUP, which the
Bidders fully agree with.

On the basis of the tasks conferred upon the CSSF in Articles 4, 5 and 6 of
the law of 19 May 2006 implementing Directive 2004/25/EC of the European
Parliament and of the Council of 21 April 2004 on takeover bids (the
"Takeover Bid Law"), the CSSF is the competent authority for the approval
of the offer document to be drawn up and published by the Bidders in
accordance with Article 6 (2) of the Takeover Bid Law (the "Offer
Document").

The final Offer Document must contain all the information necessary to
enable the holders of the ORCO shares to reach a properly informed decision
as to whether or not they should participate in the
Mandatory Bid.

Moreover, according to Article 5 (1) of the Takeover Bid Law, the Mandatory
Bid must be made at an equitable price, such price normally regarded as