UPDATE ON DISPOSAL OF LAND PLOT IN GREECE

RNS Number : 3971X

Plaza Centers N.V.

23 November 2017

 

23 November 2017

PLAZA CENTERS N.V.

UPDATE ON DISPOSAL OF LAND PLOT IN GREECE

Plaza Centers N.V. ("Plaza" or the "Company") announces that, further to previous announcements  regarding the disposal of a plot in Piraeus, Greece, an amendment to the agreement has been signed and a new long stop date of 10 December 2017 has been agreed for the conclusion of the transaction.

In order to secure the prolonged validity of the initial agreement, the purchaser has paid a €25,000 non-refundable extension fee to Plaza and has an option to extend the long stop date to 20 January 2018 for an additional €25,000. Following receipt of the additional €25,000 extension fee, Plaza has now received a total of €275,000 from the purchaser in non-refundable advance payments in connection with this transaction.

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.

 

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