Plaza Centers N.V. UPDATE REGARDING SALE OF PROJECT BANGALORE INDIA (8942G)
July 29 2021 - 3:02AM
UK Regulatory
TIDMPLAZ
RNS Number : 8942G
Plaza Centers N.V.
29 July 2021
July 29, 2021
PLAZA CENTERS N.V.
UPDATE REGARDING SALE OF ITS HOLDINGS IN THE PROJECT IN
BANGALORE, INDIA
Plaza Centers N.V. (" Plaza " or the " Company ") announces
today, further to its announcements dated January 12, 2020 and May
18, 2021 (the " Previous Announcements ") , regarding the agreement
(" Agreement ") between Elbit Plaza India Real Estate Holdings
Limited (a subsidiary held by the Company (50%) and Elbit Imaging
Ltd. (50%)) (" EPI ") and a local investor (the " Purchaser ") for
the sale of 100% interest in the Special Purpose Vehicle (" SPV ")
which holds a site in Bangalore, India; that the SPV has submitted
an appeal before the National Company Law Appellate Tribunal,
Chennai, India against the decision of the National Company Law
Tribunal, Bengaluru, India, which dismissed the insolvency
proceedings initiated against the Purchaser for the recovery of the
amounts due.
Plaza will continue to take all measures warranted in the
circumstances to protect its interest and will update regarding any
new development in this matter.
Ends
For further details, please contact:
Plaza
Ran Yaacovs, CFO 972-546-303-006
Forward-looking statement
This press release may contain forward-looking statements with
respect to Plaza Centers N.V. future (financial) performance and
position. 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.
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is listed on the Main
Board of the London Stock Exchange, and, on the Warsaw Stock
Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv
Stock Exchange("PLAZ").
.
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END
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