Plaza Centers N.V. DEFINITIVE AGREEMENT FOR THE SALE OF PLOT IN LODZ (8881U)

TIDMPLAZ

RNS Number : 8881U

Plaza Centers N.V.

02 April 2019

April 02, 2019

PLAZA CENTERS N.V.

DEFINITIVE AGREEMENT FOR THE SALE OF A PLOT IN LODZ, POLAND

Plaza Centers N.V. ("Plaza" or the "Company") announces, further to Note 5(3)(b) of the Company's annual financial statements 2018 published on March 21, 2018, regarding the sale of land Plot in Lodz, Poland (the "Plot"), that it has signed a definitive agreement (the "Agreement") for the sale of its 13,770 sqm Plot (representing 22% of this holding) to a retail developer (the "Purchaser") for a total gross consideration of EUR1.15 million (less approximately EUR0.19 million invested by the Company in access road).

Under the terms of the Agreement, the Purchaser paid EUR0.76 million, and the remaining consideration (approximately EUR0.09 million) will be paid not later than April 30, 2019. EUR0.11 million has already been received as advanced payments.

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For further details, please contact:

Plaza

   Avi Hakhamov, Acting CEO                                                          [phone] 

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 has been active in real estate development in emerging markets for over 23 years.

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April 02, 2019 10:47 ET (14:47 GMT)