Plaza Centers N.V. UPDATE ON TERM SHEET TO SELL THE PLOT IN CHENNAI (4870E)
October 18 2018 - 6:30AM
UK Regulatory
TIDMPLAZ
RNS Number : 4870E
Plaza Centers N.V.
18 October 2018
18 October 2018
PLAZA CENTERS N.V.
UPDATE REGARDING THE TERM SHEET TO SELL THE PLOT IN CHENNAI,
INDIA
Plaza Centers N.V. ("Plaza" or the "Company") announces today,
further to its press release dated July 5, 2018, regarding the
signing of a term sheet for the sale of its 50% stake in a
74.7-acre plot in Chennai, India (the "Plot" and the "Term Sheet",
respectively), that the closing date of the transaction has been
extended to November 10, 2018.
In addition, following the progress of the due diligence by the
potential buyer of the Plot (the "Buyer"), the parties agreed that
the consideration for the Plot will be reduced to 106 Crores
(approximately EUR 12.48million) instead of 110 Crores
(approximately EUR 12.95 million). The said consideration is
subject to adjustment with respect to the previous amount deposited
by the Buyer and the existing cash in the SPV which holds the
Plot.
The consummation of the transaction is subject to satisfactory
completion of the due diligence process and the execution of a
definitive agreement and the fulfillment of certain conditions
precedent. At this stage, there is no certainty that the
transaction will be completed.
All other terms and conditions of the agreement shall remain
unchanged. The Company will update regarding any new
developments.
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 N.V. is an indirect
subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company
whose shares are traded on both the Tel Aviv Stock Exchange in
Israel and on the NASDAQ Global Market in the United States. 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
DISBGBDGGDBBGII
(END) Dow Jones Newswires
October 18, 2018 06:30 ET (10:30 GMT)
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Apr 2024 to May 2024
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From May 2023 to May 2024