Analysts speculate that Radovan Vitek, who controls about 30% of Orco Property Group, is preparing the ground for extracting money from the developer at the expense of regular shareholders. The general assembly is to decide on Feb. 4 whether to appoint Vítek and two colleagues to the board. Vítek has proposed an EGM for the same day for lowering the book price of the shares from EUR 4.10 to EUR 2 and the registered capital from EUR 442.1m to EUR 215.7m. The difference (EUR 226.4m) would go into the company’s reserves, and Dep. CEO Ales Votruba said this is so that additional capital can be raised. However, some analysts expect a dividend payout instead (as Telefonica did last year). To raise the cash to do this, Orco would have to sell off property or perhaps divide it up among shareholders, leaving simple shareholders with nothing.