Radovan Vítek and two of his colleagues from CPI Group were named yesterday to the board of Orco (70,4 CZK, 0,00%) real-estate developer. Shareholders also voted to decrease corporate capital without cancellation of shares, by decreasing accounting par value of existing shares from EU4.1 to EU2/share. /The decreased corporate capital should be transferred into a “reserve” fund and could be used in the future (for example to pay a dividend). Officially this has been done because according to the current law the company cannot issue new shares below par value. Note that the stock has been recently trading below par value