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Plaza Centers N.V.: Third party commitment to purchase the scheme in Chennai, India (2015-09-16)

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UNI-EN 15:Third party commitment to purchase the scheme in Chennai, India

Firma: PLAZA CENTERS N.V.
Spis treści:
1. REPORT
2. INFORMATION ABOUT THE ENTITY
3. SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Spis załączników:
  1. 16 09 16_Plaza_CHENNAI sale PR_Final3 (clean).pdf

POLISH FINANCIAL SUPERVISION AUTHORITY









UNI - EN REPORT No 15 / 2015





Date of issue: 2015-09-16
Short name of the issuer
PLAZA CENTERS N.V.
Subject
Third party commitment to purchase the scheme in Chennai, India
Official market - legal basis
Inne uregulowania
Unofficial market - legal basis
Contents of the report:
Plaza Centers N.V. (“Plaza" or the “Company") announces that its subsidiary, Elbit Plaza India Real Estate Holdings Limited (in which Plaza holds a 50% stake with its joint venture partner, Elbit Imaging Ltd.) (“EPI"), which has been in discussions regarding the sale of EPI’s 80% stake in Kadavanthara Builders Private Limited (the “Sale Transaction"), an Indian company (“SPV") which owns a c. 74.7 acre plot in Chennai, India, has obtained a commitment that, subject to the fulfilment of certain conditions precedent, the Sale Transaction will be completed by 15 January 2016 (the “Long Stop Date").

The expected aggregate net disposal price to EPI is c. €21.6 million (INR 161.7 Crores), net of all transaction related costs. If completion does not take place by the Long Stop Date, then EPI’s stake in the SPV will be increased to 100%.
This disposal is in line with Plaza’s strategy to focus on core projects in Central and Eastern Europe.

Ends

For further details, please contact:
Plaza
Akiva Azulay, CEO +36 1 462 7221
Roy Linden, CFO +36 1 462 7222

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

Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is a leading property developer and investor with a significant presence across Central and Eastern Europe and operations in India. It focuses on constructing new shopping and entertainment centres and, where there is significant 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, the Warsaw Stock Exchange and, as of 27 November 2014, the Tel Aviv Stock Exchange (LSE:"PLAZ", WSE: “PLZ/PLAZACNTR"; TASE: “PLAZ"). Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. (“EIL"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in the United States. It has been active in real estate development in emerging markets for over 19 years.

Annexes
File Description
16 09 16_Plaza_CHENNAI sale PR_Final3 (clean).pdf
16 09 16_Plaza_CHENNAI sale PR_Final3 (clean).pdf

PLAZA CENTERS N.V.
(fullname of the issuer)
PLAZA CENTERS N.V. Budownictwo (bud)
(short name of the issuer) (sector according to clasification
of the WSE in Warsow)
1016EA Amsterdam
(post code) (city)
Keizergracht 241
(street) (number)
(phone number) (fax)
(e-mail) (web site)
(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY
Date Name Position / Function Signature
2015-09-16 Akiva Azulay CEO

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