CDI: Market Update (18 March 2020)

CDI refers to the release made by its majority shareholder Millennium & Copthorne Hotels New Zealand (NZX:MCK) earlier this morning and advises: --Its property development operations are not currently affected by the COVID-19 entry and self-isolation restrictions imposed by the New Zealand Government last Saturday and land development work is continuing; --Sales at its subdivisions are proceeding in line with forecasts and no new profit guidance is justified at this time; --The Board has reaffirmed payment of the 3.5 cents per share dividend declared in February; and --As stated in its 2019 results announcement in February, CDI is targeting an earnings result for this year which reflects current market conditions; CDI will update the market as required under the NZX Listing Rules should there be changes to any of the above. End CA:00350145 For:CDI Type:MKTUPDTE Time:2020-03-18 09:05:50