REVIEWED RESULTS FOR SIX MONTHS ENDED 30 JUNE 2017

RNS Number : 8238W

Plaza Centers N.V.

17 November 2017

 

17 November 2017

PLAZA CENTERS N.V.

REVIEWED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017

Plaza Centers N.V. ("Plaza" or the "Company") announces that further to its announcement published on 29 September 2017, EY Israel (the auditor of the consolidated financial statements in accordance with IFRS) has concluded its review of the interim condensed consolidated financial statements for H1-2017 ("Reviewed Interim Financial Statements").

The Reviewed Interim Financial Statements are available for review on the Company's website at: http://www.plazacenters.com/index.php?p=financial_reports_2017.

There are no changes in the numbers between the Reviewed Interim Financial Statements and the not reviewed Interim Financial Statements published on September 29, 2017. The main differences in the notes are as follows:

·      Basis of Preparation - updated disclosure following the publication on October 27,2017 of the Restated Consolidated Financial Statements relating to the 2016 financial year. Refer to Note 2.

·      Equity accounted investees -  Note 5 was deleted following the publication of Restated Consolidated Financial Statements for 2016 financial year.

·      The going concern and liquidity position of the Company - updated disclosure. Refer to Note 4.

·      Material Events during the Period - updated disclosure regarding the sale of Torun shopping centre. Refer to Note 7.

·      Subsequent events - updated disclosure in regards to (Refer to Note 8):

v Disposal of land plot in Greece.

v Mandatory repayment to Bondholders  

v Land Plot in Budapest, Hungary

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. 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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