AI Terminal
Plaza Centres Plc
M&A Activity • Sep 28, 2016
2062_rns_2016-09-28_9e2ee3ae-803a-4e34-9022-a8c509764661.pdf
M&A Activity
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Plaza Centres p.l.c. The Plaza Commercial Centre Level 6 · Suite 7 Bisazza Street Sliema SLM1640 Malta
(00356) 2134 3832/3/4 le P (00356) 2134 3830 E-mail: [email protected] Web: www.plaza-shopping.com Co. Reg. No. C 564 VAT No. MT 10030232
Company Announcement
Acquisition of Property
| Date of announcement: | 28 September 2016 |
|---|---|
| Reference: | PZC145/2016 |
The following is a Company Announcement issued by Plaza Centres plc (the "Company") pursuant to the Malta Financial Services Authority Listing Rules:
QUOTE
With reference to the property named 'Tigne Place', situated at number twelve (12), Triq Tigne, Sliema, consisting in office and commercial space, along with related car parking facilities (the "Target Property"), as better described in sections 4.2.1 and 13 of the Registration Document forming part of the Prospectus dated 11 August 2016 issued by the Company in respect of the issue of €8,500,000 3.9% Unsecured Bonds 2026 (the "Prospectus"), the Board of Directors of the Company announces that the final deed of purchase of the Target Property was signed on the 27 September 2016 between the vendor and the Company's subsidiary, Tigne Face Limited, a limited liability company registered under the laws of Malta with company registration number C-76364 and having its registered office at The Plaza Commercial Centre, Level 6, Bisazza Street, Sliema SLM 1640, Malta (the "Subsidiary"). As indicated in the Prospectus, the Issuer exercised its right emanating from the relative promise of sale agreement dated 5 May 2016 to assign its rights under of the Subsidiary.
The conditions precedent to the acquisition of the Target Property described in section 13 of the Registration Document forming part of the Prospectus have been duly satisfied.
As indicated in section 4.1 of the Securities Note forming part of the Prospectus, €5,000,000 forming part of the proceeds of the bond issue were applied by the Subsidiary, further to a conditional shareholder loan agreement dated 20 July 2016 entered into with the Company, in part settlement of the consideration due for the acquisition of the Target Property.
UNQUOTE
Lionel A.Lapira Company Secretary 28 September 2016