Plaza Centers N.V.
24 September 2007
24 September 2007
PLAZA CENTERS CONFIRMS INTENTION TO SEEK DUAL LISTING
ON THE WARSAW STOCK EXCHANGE
Further to its announcement on 6 August 2007 and the appropriate approvals
having been given by the Board and by the Company's shareholders at the
Company's Extraordinary General Meeting ('EGM') on 30 August 2007 (all other
resolutions at such EGM were also passed), Plaza Centers N.V. ('Plaza' or the '
Company'), a leading Central and Eastern European ('CEE') emerging markets
property developer, is pleased to confirm that today it is announcing in Warsaw,
Poland its formal intention to list its shares on the Warsaw Stock Exchange ('
WSE'), thereby achieving a dual listing in London (where it is listed on the
Main Board of the London Stock Exchange) and Warsaw.
The dual listing of Plaza Centers stock on the WSE will be sought on the basis
of a prospectus already filed with the Netherlands Authority for the Financial
Markets (Stichting Autoriteit Financiele Markten - 'AFM'). The AFM will notify
the Polish Financial Supervision Authority (the KNF) about the approval of the
prospectus.
The Company is not intending to raise funds as part of this process.
The Company has been active in Central & Eastern Europe since 1996. During this
time, it has developed and sold 26 projects, including seven in Poland (Sadyba
Best Mall in Warsaw, Krakow Plaza, Poznan Plaza, Ruda Slaska Plaza, Rybnik
Plaza, Sosnowiec Plaza and Lublin Plaza). The Company currently has 25 more
projects under development, of which four are located in Poland, in Lodz,
Suwalki, Torun, and Zgorzelec. Plaza continues to seek further investment
opportunities in the country.
Commenting on its intentions, Ran Shtarkman, President and CEO of Plaza Centers
N.V., said:
'We are pleased to confirm today that we are seeking to list our shares on the
Warsaw Stock Exchange. We enjoy a high profile in the region and believe the
admission of our shares to trading on this highly active local stock exchange
will satisfy the growing appetite of investors in Poland and Central and Eastern
Europe to invest in our company.
'The WSE has been extremely active over the past few years, with fast-increasing
levels of investment activity from both institutional (particularly pension and
mutual funds) and retail investors. We anticipate that the Company's shares
will be admitted to trading by the end of this year and are confident that this
will enhance the liquidity of our shares, thereby benefiting all our
shareholders.'
For further details please contact:
Plaza
Mordechay Zisser, Chairman +972 3 6086000
Ran Shtarkman, President and CEO +36 1 462 7221
Roy Linden, CFO +36 1 462 7105
Financial Dynamics +44 20 7831 3113
Stephanie Highett/Lauren Mills
Notes to Editors
• Plaza Centers N.V. (www.plazacenters.com) is a leading emerging markets
developer of shopping and entertainment centres, focusing 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 an indirect subsidiary of Elbit Medical
Imaging Ltd. ('EMIL'), an Israeli public company whose shares are traded on
both the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in
the United States.
• Plaza Centers is a member of the Europe Israel Group of companies which is
controlled by its founder, Mr Mordechay Zisser. It has been active in
real estate development in emerging markets for over 11 years.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.