FINAL AGREEMENT SIGNED ON SALE OF KIELCE PLAZA

RNS Number : 4054I

Plaza Centers N.V.

19 June 2017

 

19 June 2017

PLAZA CENTERS N.V.

FINAL AGREEMENT SIGNED ON SALE OF KIELCE PLAZA, POLAND

Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that, further to its announcement on 13 October 2016, it has signed the final sale agreement for the disposal of its 2.47 hectare plot in the centre of Kielce, Poland, for €2,280,000.

Plaza received a down payment of €465,000 when the preliminary sale agreement was signed. Now that the final agreement has been signed, the remaining €1,815,000 has been paid to Plaza.

In line with the Company's stated amended restructuring plan, 75% of the net cash proceeds will be distributed to Plaza's bondholders.

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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