Plaza Centers N.V. PRELIMINARY AGREEMENT- SALE OF A LAND PLOT IN LODZ (0555A)
May 23 2019 - 12:42PM
UK Regulatory
TIDMPLAZ
RNS Number : 0555A
Plaza Centers N.V.
23 May 2019
May 23, 2019
PLAZA CENTERS N.V.
SIGNING A PRELIMINARY AGREEMENT FOR THE SALE OF A LAND PLOT IN
LODZ, POLAND
Plaza Centers N.V. ("Plaza" or the "Company") announced today,
further to its press release dated April 2, 2019, regarding the
sale of its 22% holdings in the land Plot in Lodz, Poland (the
"Plot"), that it has signed a Preliminary Agreement (the
"Preliminary Agreement") for the sale of its remaining holdings in
the Plot (circa 47,860 sqm) to a local developer (the "Purchaser")
for a total gross consideration of approximately EUR1.10 million
(the "Consideration").
Under the terms of the Preliminary Agreement: (i) a conditional
sale agreement will be signed until September 3, 2019 (the "Closing
Date") following due diligence. The Purchaser has the right to
withdraw from the transaction until the Closing Date; (ii) a
definitive agreement will be signed not later than October 15, 2019
; (iii) 10% of the Consideration was deposited on notarial deposit
upon signing the Preliminary Agreement and will be released upon
signing a definitive agreement following municipality's
confirmation that it will not exercise preemptive rights (the
"Confirmation"); (iiii) 40% of the Consideration will be paid upon
signing a definitive agreement and subject to obtaining the
Confirmation; and (v) 50% of the Consideration will be paid not
later than December 10, 2019. This payment will be secured by a
mortgage on the Plot.
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 signing a definitive agreement with
the Purchaser. 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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