Amsterdam, June 25, 2012 – Kardan N.V. (“Kardan”), active in Real Estate, Water Infrastructure and Financial Services in emerging markets, announces that Globe Trade Centre SA (“GTC SA”) , its 27.75% indirectly held subsidiary, active in Real Estate in Central and South East Europe, announced on June 22, 2012 that its rights issue was more than two times oversubscribed.

Through the rights issue GTC SA strengthens its share capital by PLN 445 million (approximately EUR 104 million), before transaction costs. The rights issue is an element of the strategic plan of GTC SA to deleverage and increase its liquidity.

Kardan in accordance with its intention as announced earlier, participated in the rights issue through its fully owned subsidiary GTC Real Estate Holding B.V. (“GTC Holding”) to its pro rata share of 27.75%. As all the rights have been exercised, GTC Holding’s share in the capital of GTC SA remains 27.75%.

GTC SA

GLOBE TRADE CENTRE S.A. (GTC SA) is one of the leading developers in New Europe and was established in 1994 in Warsaw. It currently operates in Poland, Hungary, the Czech Republic, Romania, Serbia, Croatia, Slovakia, Bulgaria, Russia and Ukraine.

GTC SA develops projects and manages completed properties in three key sectors of real estate: office buildings and parks, retail and entertainment centers and residential.
GTC SA has developed approximately 850,000 sqm of net commercial space and 290,000 sqm of residential space and is currently the owner of completed commercial property with a combined net area of about 647,000 sqm (in which GTC SA’s share amounts to 596,000 sqm). GTC SA also holds landbank designated for future development, with approximately 874,000 sqm of plots of land designated for commercial use and approximately 1,815,000 sqm of plots of land designated for residential use, of which the Group’s proportionate interest therein amounts to approximately 800,000 sqm and approximately 1,427,000 sqm, respectively. GTC SA’s total assets exceed EUR 2.4 billion.
GTC SA’s shares are listed on the Warsaw Stock Exchange on the prestigious WIG20 index. The company's shares are also included in the international Dow Jones STOXX Eastern Europe 300 index, the GPR250 index, which comprises the 250 biggest and most liquid real estate companies of the world, and the FTSE EPRA/NAREIT Emerging Index. Among GTC SA's shareholders are many of the biggest Polish and international institutional investors.