A DEFINITIVE AGREEMENT FOR SELLING LAND PLOT, LODZ

RNS Number : 5419P

Plaza Centers N.V.

10 October 2019

 

October 10, 2019

PLAZA CENTERS N.V.

SIGNING A DEFINITIVE AGREEMENT FOR SELLING THE LAND PLOT IN LODZ, POLAND

 

Plaza Centers N.V. ("Plaza" or the "Company") announced today, further to its announcement dated September 4, 2019, regarding the Conditional Sale Agreement for the sale of its remaining holdings in the land Plot in Lodz, Poland (circa 47,860 sqm) (the "Plot") to a local developer (the "Purchaser") for a total gross consideration of approximately €1.10 million (the "Consideration"), that the Company has signed a definitive agreement for the sale of the Plot. 

 

The Company has received 50% of the Consideration and the remaining 50% will be transferred to the Company not later than December 10, 2019. This payment will be secured by a mortgage on the Plot.

 

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For further details, please contact:

Plaza

Avi Hakhamov, Executive Director                                                           [phone]

Forward-looking statements

This press release may contain forward-looking statements with respect to future payments under the definitive agreement with the Purchaser. 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. Plaza Centers N.V. has no obligation to update the statements contained in this press release, unless required by law.

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. Plaza Centers has been active in real estate development in emerging markets for over 23 years.

 

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