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Orco investor Vitek withdraws 4 board candidates before AGM
June 20, 2013 / 10:44 AM / 4 years ago

Orco investor Vitek withdraws 4 board candidates before AGM

PRAGUE, June 20 (Reuters) - Orco Property Group said on Thursday shareholder Gamala, which is controlled by Czech real estate investor Radovan Vitek, had withdrawn four candidates for Orco’s board ahead of a general shareholder meeting on June 27.

Other investors had forced the delay of the annual shareholder meeting in May to buy time to build opposition against what they said was Vitek’s attempt to take control of the board.

Vitek, who runs real estate group Czech Property Investments, raised his stake in Orco last year, prompting speculation that he could try to take control of the firm.

Reporting by Jason Hovet; editing by Jane Baird

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