Disposal

RNS Number : 7066X

Plaza Centers N.V.

23 February 2017

 

23 February 2017

PLAZA CENTERS N.V.

SALE OF PLOT IN BULGARIA

Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that it has concluded the sale of a 26,057 sqm plot of land in Shumen, Bulgaria for circa €1 million, which is slightly above book value.

Located in the north-east of Bulgaria, about 300 km from the capital Sofia, Shumen has a population of circa 80,000 and the plot is currently earmarked for commercial development.

Of the net proceeds, at least 75% will be distributed to the Company's bondholders on or before 31 March 2017, in line with the Company's stated amended Restructuring Plan.

Ends

For further details, please contact:

Plaza

Dori Keren, CEO                                                                        [phone]

FTI Consulting

Dido Laurimore / Claire Turvey / Tom Gough                                 [phone]

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.

 

END

 

 

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