Update on disposal of land Plot in Miercurea Ciuc

RNS Number : 7138U

Plaza Centers N.V.

01 April 2019

 

01 April 2019

PLAZA CENTERS N.V.

Update on disposal of Plot of land in Miercurea Ciuc, Romania

Plaza Centers N.V. ("Plaza" or the "Company") announces that following negotiations with the purchaser, the parties agreed and signed today an addendum to the pre-agreement (the "Addendum") that provided as follows: (i) the signing date of a definitive sale purchase agreement will be postponed by 3 months to mid-July 2019 (ii) the receipt of additional non-refundable advance payments of EUR 150,000 today and EUR 100,000 by the mid of April 2019, and (iii) the sale price will be increased by EUR 30,000.

This addendum is executed further to the Company's announcement dated on October 17, 2018 regarding signing the pre-agreement for the sale of plot of land in Miercurea Ciuc, Romania in which the Company granted an option for the purchase of the plot till mid-April 2019 for a total price of EUR 1,550,000. The Company has received the amount of EUR 110,000 up to the execution date of the Addendum, including March 2019 (non-refundable payments).

To the extent that the Company will enter into a definitive agreement and consummates the transaction, the Company expects to receive EUR 1,320,000 (excluding non-refundable advance payments).

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 23 years.

 

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