CDI STATEMENT REGARDING TAKEOVER NOTICE FOR MCK

CDL Investments New Zealand Limited (“CDI”) has noted the notice of intention from CDL Hotels Holdings New Zealand Limited (“CDLHH NZ”) to make a takeover offer for Millennium & Copthorne Hotels New Zealand Limited’s (MCK) ordinary shares issued to the market this morning. MCK holds approximately 65% of the shares in CDI.

CDI notes that the draft letter to MCK’s shareholders from the offeror CDLHH NZ which was filed with NZX this morning makes clear that the offer is not for CDI and indicates that CDLHH NZ’s intention is that CDI will continue to be a listed entity.

No action needs to be taken by CDI’s shareholders in connection with the takeover notice for MCK.


-ENDS-

Issued by CDL Investments New Zealand Limited

About CDL Investments New Zealand Limited:
CDL Investments New Zealand Limited (NZX:CDI) has a proud track record of acquiring and developing residential sections in New Zealand for over two decades. With a focus on creating and developing a range of high-quality residential sections to New Zealanders, CDI has successfully completed numerous subdivision projects in Auckland, Hamilton, Tauranga, Hastings, Havelock North, Taupo, Nelson, Christchurch, Rolleston (Canterbury) and Queenstown. More recently, CDI has successfully completed commercial property projects including industrial warehouses in Wiri, South Auckland and neighbourhood centres at Prestons Park, Christchurch and Stonebrook in Rolleston. CDI is a majority-owned subsidiary of NZX-listed Millennium & Copthorne Hotels New Zealand Limited.

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