Plaza Centers N.V. Belgrade Plaza opens to the public (9584C)
21 April 2017 - 5:17PM
UK Regulatory
TIDMPLAZ
RNS Number : 9584C
Plaza Centers N.V.
21 April 2017
21 April 2017
PLAZA CENTERS N.V.
BELGRADE PLAZA OPENS TO THE PUBLIC
Plaza Centers N.V. ("Plaza" or the "Company"), an emerging
markets property developer, announces that Belgrade Plaza
successfully opened to the public yesterday, 20 April. The
completed centre is 97% let and expected to be fully leased in the
coming months. Belgrade Plaza is the 34(th) shopping centre built
by Plaza and its second scheme in Serbia.
As previously announced, one of Plaza's subsidiaries signed a
binding share purchase agreement with BIG Shopping Centers Ltd., a
publically traded company listed in the TA 35 Index (the top 35
companies traded on the Tel Aviv Stock Exchange) (the "Purchaser"),
for the sale of the Belgrade Plaza shopping and entertainment
centre.
In line with the agreement with BIG Shopping Centers Ltd, Plaza
will receive EUR2 million for fulfilling its conditions around the
successful opening of the centre. In line with the Company's stated
amended restructuring Plan, 75% of the net proceeds will be
distributed to the Company's bondholders. Future proceeds are
expected subject to conditions being met, details of which can be
found in the completed sale announcement dated 2 March 2017.
Ends
For further details, please contact:
Plaza
Dori Keren, CEO +48 22 231 99 00
FTI Consulting
Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is an emerging markets
developer of shopping and entertainment centres. It focuses on
constructing new centres and, where there is significant
redevelopment 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, as of 19
October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE:
"PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange. Plaza Centers
N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an
Israeli public company whose shares are traded on both the Tel Aviv
Stock Exchange in Israel and on the NASDAQ Global Market in the
United States. Plaza Centers has been active in real estate
development in emerging markets for over 21 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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