CDI: Judicial Review Proceedings Update

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S T O C K E X C H A N G E A N N O U N C E M E N T

Date 1 April 2022

Subject CDL INVESTMENTS NEW ZEALAND LIMITED WELCOMES HIGH COURT
DECISION TO DISMISS JUDICIAL REVIEW PROCEEDINGS

Residential property developer CDL Investments New Zealand Limited (NZX: CDI) and its wholly
owned subsidiary CDL Land New Zealand Limited (“CDLL”) are both pleased that the High Court has
dismissed the judicial review proceedings brought by Winton Property Investments Limited last year.

In a decision dated yesterday, Justice Gendall stated that none of Winton’s grounds of challenge to the
consent decision could be made out and for that reason the application for judicial review was
dismissed.

CDL Land’s Executive Director Jason Adams was actively continuing to progress with its consenting
and development of the Iona Block in Havelock North.

“Obviously we are very happy with the decision and this lifts a burden from our shoulders. We are on
track with the master planning and consenting applications for the first stage of our development for
the Iona Block and we are absolutely committed to fulfilling the vision we have for this important land”,
he said.


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Issued by CDL Investments New Zealand Limited