Radovan Vítek is expected to be appointed to the Orco Property Group board on Feb. 4. Martin Němeček and Jiří Dedera, representatives from Crestline Ventures and Gamala Ltd, are also expected to take seats on the board next month. The three will replace David Ummels, Benjamin Colas and Bertrand Des Pallieres.
Crestline Ventures and Gamala have been Orco’s majority shareholders since the end of last year. Both have a 30-percent stake in Orco. Shareholders are also scheduled to discuss decreasing Orco’s basic capital to €215.7m from the current €442.1m.
