Ariel Hasson, CEO of Kardan NV: “The operational performance of our real estate and water infrastructure activities continued positively in the 1st quarter of 2018. Our real estate activities in China, through our subsidiary KLC, was especially successful in selling and delivering residential units. Our water infrastructure activities, through our subsidiary Tahal, again won new projects, expanding its activities in Russia and India.
In January 2018 we commenced negotiations with our debenture holders in order to come to a new debt settlement.
As of today, these negotiations are still ongoing, and although there is no certainty about the outcome of these negotiations, we are fully committed to reach an agreed settlement in the interests of all stakeholders.
In parallel, we will continue to advance asset divestments in a manner that will allow us to maximize proceeds in order to meet our repayment obligations and to restore our equity position.”