Business
Update
Update.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 1073U Plaza Centers N.V. 27 November 2013 \n \n\n \n27 November 2013\n \n \nPlaza Centers N.V. (the \"Company\" or \"Plaza\")\n \nFINANCIAL INFORMATION FOR NINE MONTHS ENDED 30 SEPTEMBER 2013\n \nFurther to the announcements made on 14 and 18 November regarding Plaza's debt restructuring process, and information provided in the third quarter interim management statement reported on 18 November, the Company today announces financial information for the nine months period ended 30 September 2013.\n \nManagement have taken the decision to provide this interim financial information to ensure shareholders and bondholders have full insight into the Company's financial performance in light of the Board concluding to withhold payment on the upcoming maturities of the bonds and approach the creditors of the Company with a restructuring plan in a formalized restructuring.\n \nHighlights:\n· Loss for the three month period ended 30 September 2013 of €90 million which includes an impairment loss of €71.2 million related to properties in India, Romania, Serbia and Poland.\n· Total equity of €258 million compared to €442 million on 31 December 2012.\n· Current consolidated cash position (including restricted bank deposits and held for trading financial assets) of €33 million (31 December 2012: €66 million).\n· The auditors of Plaza, without qualifying their conclusion on the interim financial information, draw attention to the existence of a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern.\n \nFor further information on the current situation, the content of the restructuring plan and the further process, please visit: http://www.plazacenters.com/index.php?p=debt_restructuring \n\n\n \nFor further details, please contact:\n \nPlaza\nRan Shtarkman, President and CEO +36 1 462 7221\nRoy ...