Plaza Centers N.V. PRE-AGREEMENT, SALE LAND PLOT IN BRASOV, ROMANIA (1734P)
February 05 2019 - 12:36PM
UK Regulatory
TIDMPLAZ
RNS Number : 1734P
Plaza Centers N.V.
05 February 2019
February 5, 2019
PLAZA CENTERS N.V.
PRE-AGREEMENT FOR THE SALE OF A LAND PLOT IN BRASOV, ROMANIA
Plaza Centers N.V. ("Plaza" or the "Company") announced today
that it has signed a Pre-Agreement for the sale of a plot in
Brasov, Romania (the "Property") for a total gross amount of EUR
620,000 (the "Transaction") which is slightly above the last
reported book value.
The consummation of the Transaction (which will take place not
later than January 15, 2020) is subject to the fulfillment of
certain conditions, including, inter alia: (i) the former financing
bank of the Project did not exercise its right to purchase the
Property until December 6, 2019 (as disclosed in Note 8(9) of the
Company's annual financial statements 2017); (ii) successful
conclusion by the potential purchaser (the "Purchaser") of its due
diligence investigations; and (iii) the execution of definitive
agreement.
During the period commencing on the date of the execution of the
Pre-Agreement and ending on the earlier of: (i) January 15, 2020,
or (ii) the date of the termination of the Pre-Agreement, the
Company and its representatives have undertaken to refrain from
negotiating with any other third party other than the Purchaser
(and other than the bank as mentioned above) for the purpose of
selling its Plot of land.
As of the date hereof, there can be no certainty that a
definitive agreement will be signed and/or that the Transaction
will be consummated.
Ends
For further details, please contact:
Plaza
Avi Hakhamov, Acting CEO +36 1 6104523
Forward-looking statements
This press release may contain forward-looking statements with
respect to the possibility of completing the Transaction. Such
statements are based on current expectations, estimates and
projections of Plaza Centers N.V. and information currently
available to the company. Plaza Centers N.V. cautions readers that
such statements involve certain risks and uncertainties that are
difficult to predict and therefore it should be understood that
many factors can cause actual performance and position to differ
materially from these statements. Plaza Centers N.V. has no
obligation to update the statements contained in this press
release, unless required by law.
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.
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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