Plaza Centers N.V. — Capital/Financing Update 2017

Feb 23, 2017

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 7066X

Plaza Centers N.V.

23 February 2017

23 February 2017

PLAZA CENTERS N.V.

SALE OF PLOT IN BULGARIA

Plaza Centers N.V. ("Plaza" or the "Company"), an emerging markets property developer, announces that it has concluded the sale of a 26,057 sqm plot of land in Shumen, Bulgaria for circa €1 million, which is slightly above book value.

Located in the north-east of Bulgaria, about 300 km from the capital Sofia, Shumen has a population of circa 80,000 and the plot is currently earmarked for commercial development.

Of the net proceeds, at least 75% will be distributed to the Company's bondholders on or before 31 March 2017, in line with the Company's stated amended Restructuring Plan.

Ends

For further details, please contact:

Plaza

Dori Keren, CEO                                                                        +48 22 231 99 00

FTI Consulting

Dido Laurimore / Claire Turvey / Tom Gough                                 +44 20 3727 1000

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres. The Company 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 21 years.

This information is provided by RNS

The company news service from the London Stock Exchange

END

DISBDGDDSUDBGRX