​The Directors of Cardno Limited ('Cardno') have reaffirmed their intention to recommend that shareholders reject the unsolicited, proportional takeover offer from Crescent Capital.

The Directors' formal recommendation and reasons to reject the offer will be provided in Cardno's Target's Statement which will be lodged with the ASX no later than 13 October 2015 and mailed to all Cardno shareholders.

Shareholders should take no action in relation to the offer.

Shareholders are reminded that they have limited rights to withdraw any acceptance of Crescent Capital's offer. Before making a decision on the offer, shareholders should review the Target's Statement.

Chairman John Marlay said that Crescent Capital is seeking to gain control of Cardno without paying shareholders an appropriate premium for control.

'This is an unsolicited and opportunistic bid, at a time when Cardno has appointed a new CEO and Managing Director Richard Wankmuller, who is conducting a strategic review, ' Mr Marlay said.

The Target's Statement will include the key business initiatives developed as part of the strategic review.

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For further information, please contact:

Ian Brown, FIRST Advisers (D: +61 2 8011 0352, M: +61 418 466 129)

About Cardno: Cardno is an ASX200 professional infrastructure and environmental services company, with specialist expertise in the development and improvement of physical and social infrastructure for communities around the world. Cardno's team includes leading professionals who plan, design, manage and deliver sustainable projects and community programs. Cardno is an international company, listed on the Australian Securities Exchange [ASX: CDD]. www.cardno.com.

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