Plaza Centers N.V. ELBIT IMAGING-NO LONGER CONTROLLING SHAREHOLDER (0318L)
December 19 2018 - 11:50AM
UK Regulatory
TIDMPLAZ
RNS Number : 0318L
Plaza Centers N.V.
19 December 2018
19 December 2018
PLAZA CENTERS N.V.
ELBIT IMAGING ANNOUNCES IT IS NO LONGER THE CONTROLLING
SHAREHOLDER
OF PLAZA CENTERS N.V.
Plaza Centers N.V. ("Plaza" or the "Company") announces that
today Elbit Imaging Ltd. (TASE, NASDAQ: EMITF) ("Elbit") informed
that it has signed a trust agreement according to which Elbit will
deposit its shares of Plaza Centers N.V (the "Shares" and "Plaza",
respectively) with a trustee.
In accordance with the trust agreement, Elbit retains the right
to receive any and all rights in connection with the Shares, other
than the voting rights which are vested with the trustee for all
matters and purposes effective from December 18, 2018.
In addition, Elbit may instruct the trustee, from time to time,
to sell all or any portion of the Shares.
The trust agreement shall terminate upon the earlier of: (i) a
sale of all of the Shares to a third party; and (ii) the date on
which actions have been taken for realization of any of the liens
Elbit granted in favor of the holders of the Series I Notes issued
by Elbit.
The outcome of the above mentioned is that Elbit no longer
considers itself to be the controlling shareholder of Plaza and
accordingly will not consolidate Plaza's financial reports in its
own financial reports.
Ends
For further details, please contact:
Plaza
Avi Hakhamov, Acting CEO +36 1 6104523
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 22 years.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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