Plaza Centers N.V. SALE OF KIELCE PLAZA & UPDATE RE DEVELOPMENT PLOT (3988M)
13 October 2016 - 6:00PM
UK Regulatory
TIDMPLAZ
RNS Number : 3988M
Plaza Centers N.V.
13 October 2016
13 October 2016
PLAZA CENTERS N.V.
PRELIMINARY SALE OF KIELCE PLAZA AND UPDATE RE DISPOSAL OF GREEK
DEVELOPMENT PLOT
Plaza Centers N.V. ("Plaza" or the "Company"), a leading
emerging markets property developer, announces that it has signed a
preliminary sale agreement for the disposal of a 2.47 hectare plot
in the centre of Kielce, Poland, for EUR2,280,000.
As part of the sale process, Plaza has received a down payment
of EUR465,000, while the remaining EUR1,815,000 will be paid within
eight months of this agreement.
On completion of the transaction, in line with the Company's
stated restructuring plan, 75% of the net cash proceeds will be
distributed to Plaza's bondholders.
The Company also announces that, further to its statement issued
on 8 April 2016 regarding a pre-agreement to sell a development
plot in Greece which was due to have completed within a six month
period, the purchaser has been provided with an extension to
complete the transaction, to the second part of November 2016.
Ends
For further details, please contact:
Plaza
Dori Keren, Acting CEO +48 22 231 99 00
Eitan Farkas, Financial Director +36 1 462 7140
FTI Consulting
Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is a leading property
developer and investor with a significant presence across Central
and Eastern Europe and operations in India. It focuses on
constructing new shopping and entertainment centres and, where
there is significant potential, redeveloping existing centres in
both capital cities and important regional centres. The Company is
listed on the Main Board of the London Stock Exchange, the Warsaw
Stock Exchange and, as of 27 November 2014, the Tel Aviv Stock
Exchange (LSE: "PLAZ", WSE: "PLZ / PLAZACNTR"; TASE: "PLAZ"). Plaza
Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd.
("EIL"), an Israeli public company whose shares are traded on both
the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market
in the United States. It has been active in real estate development
in emerging markets for over 20 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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