Business
Transaction in Own Shares
Transaction in Own Shares.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n RNS Number : 5824A Plaza Centers N.V. 12 October 2009 \n \n12 October 2009\n\nPlaza Centers N.V. \n(\"Plaza\" or the \"Company\")\n\nTRANSACTION IN OWN SHARES\n\nPlaza Centers N.V., a leading emerging markets property developer, announces that on 9 October 2009 it placed a total of 14,500,000 ordinary shares, which had previously been held as treasury shares by the Company, with a number of Polish institutional investors. The shares were sold at a price of 6.5 Polish Zlotys (\"PLN\") per share (circa 141 pence), compared to the Warsaw Stock Exchange closing price on 9 October 2009 of 6.6 PLN per share (circa 143 pence). These shares were originally purchased by Plaza between October 2008 and January 2009 through a repurchase programme for a total of £7.7 million, at an average price of 53 pence per share. Plaza will receive a total gross consideration of circa £20.5 million on disposal, representing a gross economic (not accounting) gain of circa £12.8 million (circa €13.8 million).\n\nFollowing the disposal of these shares, there are no shares held in treasury by the Company and the number of ordinary shares with voting rights in issue is 292,843,864.\n\nIn addition, Plaza was also notified on 9 October 2009 that, on the same day, Elbit Imaging Ltd., Plaza's majority shareholder, sold to Polish institutional investors 4,794,292 Plaza shares at a price of 6.5 PLN per share and now indirectly owns circa 68.3% of Plaza.\n\nCommenting on the transaction, Ran Shtarkman, President and CEO of Plaza Centers N.V., said: \n\n\"Since the completion of our dual listing on the Warsaw Stock Exchange in October 2007, we have seen strong interest from Polish institutional investors for investment in our shares, supported by our strong visibility in the country. We have already successfully completed seven high quality shopping and entertainment centres in Poland a...