POLISH FINANCIAL SUPERVISION AUTHORITY
UNI - EN REPORT No24/2017
Date of issue:2017-06-21
Short name of the issuer
PLAZA CENTERS N.V.
Subject
DETAILS ON DISPOSAL OF TORUŃ PLAZA IN POLAND
Official market - legal basis
Unofficial market - legal basis
Contents of the report:
Plaza Centers N.V. (“Plaza” or the “Company”) announces that its subsidiary, Plaza Centers Polish Operations B.V., has signed a non-binding Letter of Intent (“LOI”) with an investment fund (the “Purchaser”) regarding the sale of Torun Plaza shopping and entertainment centre in Poland. The LOI binds the Purchaser to a strict timeline for undertaking a comprehensive due diligence process which would result in the transaction being completed by the middle of September 2017. Should the transaction proceed towards a signed share purchase agreement, following the due diligence process, Plaza will receive circa €70 million followed by additional payments up to a maximum potential amount of €4 million after an additional earn out period following the closing of the transaction. The expected net proceeds to the Company, following the repayment of the related bank loan are estimated to be circa €27-29 million. At this point in time, there is no certainty that the transaction will be completed. Plaza will update the market on the progress of the transaction as appropriate.
Annexes
FileDescription
17 06 16 LOI to sale Torun Plaza_final.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)
1012 ACAmsterdam
(post code)(city)
Prins Hendrikkade48-2
(street)(number)
(phone number)(fax)
(e-mail)(web site)
(NIP)(REGON)
SIGNATURE OF PERSONS REPRESENTING THE COMPANY
DateNamePosition / FunctionSignature
2017-06-21DORIKEREN
17 06 16 LOI to sale Torun Plaza_final.pdf

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