KARDAN REQUESTS DEBENTURE HOLDERS TO ENTER DISCUSSIONS
Amsterdam, November 23, 2017 – Following the press release dated November 13, 2017 in which Kardan N.V. (‘Kardan’ or ‘the Company’), announced that it has approached the trustees of debenture holders Series A and B (‘the Debenture Holders’) to enter into discussions with the Company with a view to reach certain agreements required for the terms of the intended sale of the Company's entire holdings in Tahal Group International B.V. (‘Tahal’) in relation to the timetable of such transaction, and the implications of the terms of the intended sale for the timing of the upcoming payment to the Debenture Holders, due in February 2018; and the press release dated November 21, 2017 in which Kardan announced it received a letter from the representatives of the trustee of debenture holders series B, the Company now announces that it has approached the Debenture Holders requesting them to conduct negotiations in relation to rescheduling the payments to the Debenture Holders. This request is related to a reasonable possibility of delays in the sale process of Tahal which may prevent the Company from meeting the coming payment due in February 2018. It is noted that in parallel, the Company continues its efforts to complete the sale of Tahal as soon as possible.
Kardan EUR 0,182 -1,2ct vol. 1,4 milj.
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