DEFINITIVE AGREEMENT - SALE OF A PLOT IN GREECE

RNS Number : 4287L

Plaza Centers N.V.

24 December 2018

 

December 24, 2018

PLAZA CENTERS N.V.

DEFINITIVE AGREEMENT FOR THE SALE OF A PLOT IN GREECE

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to the Company's updated cash flow published by the Company on December 13, 2018, that it has signed a definitive agreement for the sale of its (indirectly) 100% stake (on an "as is" basis) in a circa 15,000 sqm plot in Athens, Greece, for a total gross amount of EUR 1,050,000 (out of which EUR 300,000 has already been received as advance payments during 2017).

The total expected net proceeds to the Company, following the deduction of working capital adjustments in accordance with the balance sheet of the SPV and transaction costs, are estimated to be circa EUR 660,000.

Ends

For further details, please contact:

Plaza

Avi Hakhamov, Acting CEO                                                          [phone]

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 22 years.

 

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