KARDAN RECEIVES APPROVAL OF DEBENTURE HOLDERS
TO MOVE FORWARD WITH DEBT RESTRUCTURING
Amsterdam, January 6, 2015 - Kardan N.V. (‘Kardan’ or ‘the Company’), active in Real
Estate, Water Infrastructure and Financial Services in emerging markets announces that
further to the announcements of December 18 and December 30 last, it has been informed
that both the meetings of holders of the Company’s debentures Series A and of debentures
Series B (the “Debenture Holders’) have given their approval to the Immediate Amendment
and to the trustees of both Series to conduct negotiations with the Company to reach final
agreements based on the proposed agreement in principle (the ‘Principles’).
The approval of the meetings of the Debenture Holders entails that the deeds of trust for
debentures Series A and Series B (combined referred to as ‘the Immediate Amendment’) shall be
amended to reflect, in headline, to postpone the upcoming February 2015 interest and principal
payments by six months until August 2015 for both series.
Furthermore, the approval entails that the Company and the trustees of the Debenture Holders
will begin to draft the amendments to the deeds of trust according to the proposed Principles,
which in headline entail to postpone the majority of payment of principals by 24 months against
certain conditions, restrictions and collatera