UPDATE RE 2012 DISPOSAL OF US SHOPPING CENTRES

RNS Number : 1052X

Plaza Centers N.V.

21 November 2017

 

21 November 2017

PLAZA CENTERS N.V.

UPDATE RE 2012 DISPOSAL OF SHOPPING CENTRES IN THE US

Plaza Centers N.V. ("Plaza", "Company") provides the following update regarding the sale of 47 shopping centres in the US first announced on 11 January 2012 and which completed on 21 June 2012.  The Company has recently been made aware that commission paid to an agent in connection with the disposal may have benefited a former director of the Company, and it is probable therefore that those arrangements should have been classified as a related party transaction under the Listing Rules.

At the time of the disposal, it appears that the Company was not aware that there was any potential related party interest with respect to the commission arrangements. 

The Company is currently investigating this matter and seeking appropriate advice as to whether any retrospective disclosures or other actions may be required under the Listing Rules. 

Further announcements will be made as appropriate.

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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