DGAP-News
CPI PROPERTY GROUP announces mandatory takeover bid of its wholly owned subsidiary Nukasso (CYP)
DGAP-News: CPI PROPERTY GROUP / Key word(s): Takeover
CPI PROPERTY GROUP announces mandatory takeover bid of its wholly owned
subsidiary Nukasso (CYP)
08.06.2016 / 18:13
The issuer is solely responsible for the content of this announcement.
CPI PROPERTY GROUP announces mandatory takeover bid of its wholly owned
subsidiary Nukasso (CYP)
08.06.2016 / 18:13
The issuer is solely responsible for the content of this announcement.
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CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
PRESS RELEASE
Luxembourg, 8 June 2016
CPI PROPERTY GROUP announces on behalf of its wholly owned subsidiary
Nukasso (CYP) the obligation of the latter to launch a mandatory takeover
bid to purchase any and all of the outstanding ordinary shares of ORCO
Property Group, 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
CPI PROPERTY GROUP hereby announces on behalf of its wholly owned
subsidiary Nukasso (CYP), a limited liability company incorporated under
the law of Cyprus and registered in Cyprus under HE 350294 (the "Bidder")
the Bidder's obligation to launch a mandatory takeover bid (the "Takeover"
or the "Offer") to purchase any and all of the ordinary shares of ORCO
Property Group (the "ORCO Shares"). Some of the ORCO Shares have been
admitted to trading on the regulated market of the Luxembourg Stock
Exchange and on the regulated market of the Warsaw Stock Exchange (ISIN N :
LU0122624777). ORCO Property Group is principally involved in the
development of properties for its own portfolio or intended to be sold in
the ordinary course of business and is also active in leasing investment
properties under operating leases as well as in asset management.
The Takeover is launched as a result of the recent acquisitions of various
stakeholdings of ORCO Property Group by the Bidder, which has led to the
exceedance of the threshold of 33 1/3 % of voting rights, held directly and
indirectly by the Bidder as set out below, pursuant to the second
subparagraph of article 5 (3) of the Luxembourg law of 19 May 2006 on
takeover bids (the "Takeover Bid Law"), conferring therefore control of
ORCO Property Group to the Bidder.
More specifically, the Bidder has directly acquired a holding of
approximately 6% of voting rights in ORCO Property Group.
Furthermore, the Bidder has acquired three legal entities, Aspley Ventures
Limited, Fetumar Development Limited and Jagapa Limited, (each directly
holding 30.4% of voting rights in ORCO Property Group), conferring thus to
CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254
PRESS RELEASE
Luxembourg, 8 June 2016
CPI PROPERTY GROUP announces on behalf of its wholly owned subsidiary
Nukasso (CYP) the obligation of the latter to launch a mandatory takeover
bid to purchase any and all of the outstanding ordinary shares of ORCO
Property Group, 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
CPI PROPERTY GROUP hereby announces on behalf of its wholly owned
subsidiary Nukasso (CYP), a limited liability company incorporated under
the law of Cyprus and registered in Cyprus under HE 350294 (the "Bidder")
the Bidder's obligation to launch a mandatory takeover bid (the "Takeover"
or the "Offer") to purchase any and all of the ordinary shares of ORCO
Property Group (the "ORCO Shares"). Some of the ORCO Shares have been
admitted to trading on the regulated market of the Luxembourg Stock
Exchange and on the regulated market of the Warsaw Stock Exchange (ISIN N :
LU0122624777). ORCO Property Group is principally involved in the
development of properties for its own portfolio or intended to be sold in
the ordinary course of business and is also active in leasing investment
properties under operating leases as well as in asset management.
The Takeover is launched as a result of the recent acquisitions of various
stakeholdings of ORCO Property Group by the Bidder, which has led to the
exceedance of the threshold of 33 1/3 % of voting rights, held directly and
indirectly by the Bidder as set out below, pursuant to the second
subparagraph of article 5 (3) of the Luxembourg law of 19 May 2006 on
takeover bids (the "Takeover Bid Law"), conferring therefore control of
ORCO Property Group to the Bidder.
More specifically, the Bidder has directly acquired a holding of
approximately 6% of voting rights in ORCO Property Group.
Furthermore, the Bidder has acquired three legal entities, Aspley Ventures
Limited, Fetumar Development Limited and Jagapa Limited, (each directly
holding 30.4% of voting rights in ORCO Property Group), conferring thus to
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