Orco Property Group SA announced that the board of directors named two new board members, David Ummels of Astin Capital Management Ltd. and Benjamin Colas with support from MTone. Astin and MTone are former Orco Germany bondholders who have recently exchanged their bonds for Orco Property Group shares and OCA. This change in the board composition reflects the change in Orco's new shareholding structure. To allow the appointment of Mr. Ummels and Mr. Colas through the cooptation by the board, two board members, Ott & Co., S.A. and Ales Vobruba have decided on May 25, 2012 to resign from the Orco Property Group board. In his individual capacity, Mr. Ott maintains membership and presidency of the board. Mr. Vobruba is Orco's Deputy CEO and Managing Director of Orco in Central Europe.