Business
PRELIMINARY AGREEMENT- SALE OF A LAND PLOT IN LODZ
PRELIMINARY AGREEMENT- SALE OF A LAND PLOT IN LODZ.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 0555A Plaza Centers N.V. 23 May 2019 \n\nMay 23, 2019\n \nPLAZA CENTERS N.V.\n \nSIGNING A PRELIMINARY AGREEMENT FOR THE SALE OF A LAND PLOT IN LODZ, POLAND\n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\") announced today, further to its press release dated April 2, 2019, regarding the sale of its 22% holdings in the land Plot in Lodz, Poland (the \"Plot\"), that it has signed a Preliminary Agreement (the \"Preliminary Agreement\") for the sale of its remaining holdings in the Plot (circa 47,860 sqm) to a local developer (the \"Purchaser\") for a total gross consideration of approximately €1.10 million (the \"Consideration\").\n \nUnder the terms of the Preliminary Agreement: (i) a conditional sale agreement will be signed until September 3, 2019 (the \"Closing Date\") following due diligence. The Purchaser has the right to withdraw from the transaction until the Closing Date; (ii) a definitive agreement will be signed not later than October 15, 2019 ; (iii) 10% of the Consideration was deposited on notarial deposit upon signing the Preliminary Agreement and will be released upon signing a definitive agreement following municipality's confirmation that it will not exercise preemptive rights (the \"Confirmation\"); (iiii) 40% of the Consideration will be paid upon signing a definitive agreement and subject to obtaining the Confirmation; and (v) 50% of the Consideration will be paid not later than December 10, 2019. This payment will be secured by a mortgage on the Plot. \n \nEnds\nFor further details, please contact:\n \n \nPlaza\nAvi Hakhamov, Acting CEO +36 1 6104523 \n \n \nForward-looking statements \n \nThis press release may contain forward-looking statements with respect to the possibility of signing a definitive agreement with the Purchaser. Such statements are based on current expectations, estimates and projections of Plaza Centers N.V. and information currently available to the company. Plaza Centers N.V....