Plaza Centers N.V. UPDATE RE ARBITRATION PROCESS AGAINST ROMANIA

RNS Number : 0996J

Plaza Centers N.V.

22 October 2024

 

 

October 22^nd, 2024

 

 

PLAZA CENTERS N.V.

UPDATE REGARDING ARBITRATION AGAINST ROMANIA WITH RESPECT TO THE "CASA RADIO" PROJECT

 

Further to its last announcement dated July 17^th, 2024, Plaza Centers N.V. ("Plaza" or the "Company") announces today that, on 21^st October, 2024 Plaza submitted its response to the London Court of International Arbitration regarding the arbitration initiated by the Ministry of Finance of Romania over the "Casa Radio" project.

Plaza denies all claims made by Romania and has filed a counterclaim seeking damages for Romania's breaches of the Public-Private Partnership (PPP) Agreement in respect of the loss of the value of its 75% shareholding in the Project Company.

The hearing for the ICSID arbitration, initiated by Plaza against Romania, is scheduled to commence in November 2024.

 

Ends

For further details, please contact:

 

Plaza

 

Ron Hadassi, Executive Director;                                                    972-526-076-236

 

Notes to Editors

 

Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange (LSE: "PLAZ"), on the Warsaw Stock Exchange (WSE: "PLZ/PLAZACNTR") and on the Tel Aviv Stock Exchange ("PLAZ").

 

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