In accordance with section 45 of the Takeovers Act 1993, the Takeovers Panel on 27 November 2017 granted the exemption contained in the Takeovers Code (Millennium & Copthorne Hotels New Zealand Limited and CDL Investments New Zealand Limited) Exemption Notice 2017.

The exemption takes effect on Thursday 30 November 2017.

The exemption and the reasons for granting it may be viewed at: http://www.takeovers.govt.nz/exemptions/individual-exemptions-2/millennium-and-copthorne-hotels-new-zealand-limited-and-cdl-investments-new-zealand-limited-exemption-notice-2017/.

Dated at Auckland this 27th day of November 2017.