Plaza Centers N.V. FINAL PURCHASE PRICE OF BELGRADE SHOPPING CENTER (3213P)
09 June 2020 - 4:00PM
UK Regulatory
TIDMPLAZ
RNS Number : 3213P
Plaza Centers N.V.
08 June 2020
June 8, 2020
PLAZA CENTERS N.V.
UPDATE REGARDING THE FINAL PURCHASE PRICE OF BELGRADE SHOPPING
CENTER
Plaza Centers N.V. ("Plaza" or the "Company") announces today,
further to note 17.10 of the Company's 2019 financial statements,
that it signed together with a fully owned subsidiary a final
settlement and waiver agreement with the purchaser of the SPV
holding the shopping and entertainment center in Belgrade (the
"Purchaser", the "Settlement" and the "Project", accordingly)
according to which the Purchaser will pay a final amount (including
the last payment for the stands and signage) of 830,000 Euro (the
"Settlement Amount") which will be the final amount that should be
paid to the Company under the share purchase agreement between the
parties for the sale of the Project, dated January 26, 2017 (the
"SPA").
As previously disclosed, in November 2019, the Company received
technical review prepared by a consultancy firm which detailed the
proposed investments to be performed in the Project (the "Technical
Review Report"). Following the execution of the Settlement, all
rights and/or claims and/or demands that the Purchaser may have
towards the Company and/or any of its Affiliates with respect to
the addendum to the SPA ( which the parties entered into on
September 11, 2017) and to the Technical Review Report shall
automatically, irrevocably and unconditionally be waived without
any further action or notice.
Following receiving the Settlement Amount, and in light of the
potential negative impact of the Covid-19 on the possibility to
receive future proceeds from the Company's plots in India, the
company decided that in the next payment date to its bondholders
(July 1, 2020), the Company will increase the amount to be paid to
the bondholders from 250,000 Euro to 500,000 Euro.
Ends
For further details, please contact:
Plaza
Ran Yaacovs, CFO 972-546-303-006
Forward-looking statement
This press release may contain forward-looking statements with
respect to Plaza Centers N.V. future (financial) performance and
position. Such statements are based on current expectations,
estimates and projections of Plaza Centers N.V. and information
currently available to the Company. Plaza Centers N.V. cautions
readers that such statements involve certain risks and
uncertainties that are difficult to predict and therefore it should
be understood that many factors can cause actual performance and
position to differ materially from these statements.
Notes to Editors
Plaza Centers N.V. ( www.plazacenters.com ) 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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