Amsterdam, November 30, 2015
Immediate Report
KARDAN LAND CHINA WITHDRAWS FUNDS
FROM NEW CREDIT FACILITY
Kardan N.V. (‘Kardan‘ or ’the Company‘) announces the following:
Following the announcement on October 27, 2015, regarding an agreement between Kardan Land
Dalian Ltd. (‘the Project Company’) and the investment fund Shenzhen Ping An Da Hua Huitong
Wealth Management Co., a subsidiary of Ping An Trust (‘the Fund‘) in China, with respect to a credit
facility (the ‘Credit’) amounting up to RMB 1 billion (approximately EUR 142 million) for the Europark
Dalian project (the ‘Project’), the Company updates as follows:
1. Today, November 30, 2015, the Project Company withdrew an amount of RMB 700 million
(approximately EUR 105 million) from the Credit facility.
2. The withdrawn funds will be used, together with additional existing cash reserves, to repay the
current project loan in full (the terms of which are disclosed in the Annual Report 2014) and for
on-going financing needs of the Project. Accordingly, the current project loan, as described in
the Annual Report 2014, will no longer be considered as a reportable credit for the Company.
3. Following the release of the pledges which were registered to secure the current project loan,
these pledges will be registered in favour of the Fund to secure the Credit, as described in the
previous announcement.