Plaza Centers N.V. A CONDITIONAL SALE AGREEMENT FOR SELLING LAND PLOT (2567L)
September 04 2019 - 11:36AM
UK Regulatory
TIDMPLAZ
RNS Number : 2567L
Plaza Centers N.V.
04 September 2019
September 4, 2019
PLAZA CENTERS N.V.
SIGNING A CONDITIONAL SALE AGREEMENT FOR SELLING THE LAND
PLOT
IN LODZ, POLAND
Plaza Centers N.V. ("Plaza" or the "Company") announced today,
further to its announcement dated May 23, 2019, regarding the
Preliminary Agreement (the "Preliminary Agreement") for the sale of
its remaining holdings in the land Plot in Lodz, Poland (circa
47,860 sqm) (the "Plot") to a local developer (the "Purchaser") for
a total gross consideration of approximately EUR1.10 million (the
"Consideration"), that the Company has signed a conditional sale
agreement for selling the Plot.
As previously disclosed by the Company: (i) 10% of the
Consideration that was deposited on notarial deposit upon signing
the Preliminary Agreement will be released upon signing a
definitive agreement following municipality's confirmation that it
will not exercise preemptive rights (the "Confirmation"); (ii) 40%
of the Consideration was deposited on notarial deposit upon signing
the conditional sale agreement and subject to obtaining the
Confirmation; (iii) Subject to obtaining the Confirmation a
definitive agreement will be signed not later than October 10, 2019
followed by a release of the notarial deposit; and (iv) 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, Executive Director +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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