CITY DEVELOPMENTS LI

C09
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MCHNZ: Announcement on Update on the Christchurch Land

08/21/2020 | 01:37am

General Announcement::Announcement by Subsidiary Company, Millennium & Copt... Page 1 of 1

GENERAL ANNOUNCEMENT::ANNOUNCEMENT BY SUBSIDIARY COMPANY, MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED

Issuer & Securities

Issuer/ Manager

CITY DEVELOPMENTS LIMITED

Securities

CITY DEVELOPMENTS LIMITED - SG1R89002252 - C09

Stapled Security

No

Announcement Details

Announcement Title

General Announcement

Date &Time of Broadcast

21-Aug-2020 12:17:19

Status

New

Announcement Sub Title

Announcement by Subsidiary Company, Millennium & Copthorne Hotels New Zealand Limited

Announcement Reference

SG200821OTHR1Y5U

Submitted By (Co./ Ind. Name)

Shufen Loh @ Catherine Shufen Loh

Designation

Company Secretary

Description (Please provide a detailed description of the event in the box below)

Please refer to the Announcement released by Millennium & Copthorne Hotels New Zealand Limited on 21 August 2020 titled "Update on 776 Colombo Street, Christchurch (Copthorne Hotel Christchurch Central)".

Attachments

08.21.2020_MCHNZ_announcement-Christchurch_%20Land.pdf

Total size =29K MB

https://links.sgx.com/1.0.0/corporate-announcements/MH2QS62KGKYHC5X1/67059c... 8/21/2020

MILLENNIUM & COPTHORNE HOTELS NEW ZEALAND LIMITED

N Z X A N N O U N C E M E N T

21 August 2020

UPDATE ON 776 COLOMBO STREET, CHRISTCHURCH

(COPTHORNE HOTEL CHRISTCHURCH CENTRAL)

Millennium & Copthorne Hotels New Zealand Limited (NZX:MCK) and the Roman Catholic Diocese of Christchurch are pleased to advise that they have reached agreement for the sale of MCK's land at 776 Colombo Street, Christchurch, the site of the former Copthorne Hotel Christchurch Central.

The terms of the sale are confidential to the parties and settlement of the transaction will occur in late May 2021.

MCK Managing Director Mr. BK Chiu thanked the Bishop and his representatives for the constructive way in which negotiations were handled over the last few weeks. The Bishop also acknowledged MCK's cooperation to ensuring that the Diocese's vision for the precinct on which the land is situated will now be able to be fully met.

No further announcement or comment will be made by either party until settlement of the transaction in 2021.

-ENDS-

Issued by Millennium & Copthorne Hotels New Zealand Limited

Disclaimer

CDL - City Developments Ltd. published this content on 21 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2020 04:37:02 UTC

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