UPDATE REGARDING THE PRE-SALE AGREEMENT-CASA RADIO

RNS Number : 4087L

Plaza Centers N.V.

05 September 2019

 

September 5, 2019

 

PLAZA CENTERS N.V.

UPDATE REGARDING THE PRE-SALE AGREEMENT FOR THE SALE OF THE COMPANY'S INDIRECT SHAREHOLDINGS IN THE DAMBOVITA CENTER PROJECT ("CASA RADIO")

Plaza Centers N.V. ("Plaza" or the "Company") announced today, further to its announcement dated July 4, 2019 regarding the pre-sale agreement (the "Agreement") with AFI Europe N.V. ("AFI", and together with the Company, the "Parties") for the sale of its entire indirect shareholdings (75%) in the Casa Radio Project (the "Project"), for a maximum consideration of EUR 60 million, subject to the fulfilment of certain conditions (the "Transaction"), that in accordance with the Agreement, AFI has paid the down payment of EUR 200,000. 

As previously disclosed, the Parties will now have 15 months to execute a share purchase agreement, subject to the satisfaction of conditions precedent (the "SPA").

There can be no certainty that the SPA will eventually be executed and/or that the Transaction will be consummated as presented above or at all.

Ends

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 the possibility of completing the Transaction 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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