David Ummels of Astin Capital Management and Benjamin Colas from MTone have become new members of the board at Orco Property Group. Both are former bondholders, who traded in their paper from Orco Germany for shares. Aleš Vobruba, on the other hand, has left the board, while keeping his position of the deputy CEO and head of Central Europe. Jean-Francois Ott will continue on as chairman of the board. Four of the strongest investors in Orco control 27.23 percent of the voting rights, of which MTone has 9.8 percent, Maple Leaf Macro Volatility Master Fund has 7 percent, August Finance Find has 6.83 percent and Brennus Fund comes in at 3.6 percent.
