Business
UPDATE RE DISPUTE WITH PURCHASER OF INDIA PLOT
UPDATE RE DISPUTE WITH PURCHASER OF INDIA PLOT.
About this update from Plaza Centers N.v.
[{"type":"text","content":"\n \nRNS Number : 5733F Plaza Centers N.V. 21 February 2018 \n\n21 February 2018\nPLAZA CENTERS N.V.\n \nUPDATE RE DISPUTE WITH THE PURCHASER OF A PLOT IN INDIA\n \nPlaza Centers N.V. (\"Plaza\" or the \"Company\") announces, further to its press release dated 18 January 2018, regarding the sale of the100% interest in an SPV (which is held by a subsidiary in which Plaza holds a 50% stake with its joint venture partner, Elbit Imaging Ltd.),that holds property in Bangalore, India, to a local investor (the \"Agreement\" and the \"Purchaser\" respectively), that, despite the notice by the Purchaser that remaining payments under the Agreement will be stopped, the Purchaser has paid the January installment in the amount of INR 5 Crores (circa €0.62 million).\n \nTo date, since the signing of the Agreement, the Purchaser has paid non-refundable advance payments totaling INR 45 Crores (circa € 5.94 million), out of the total consideration of INR 338 Crores (circa €43.4 million) due under the Agreement.\n \nThe Company continues to reject the Purchaser's claims and is constantly evaluating its options and considering its legal rights. \n \nEnds\n \nFor further details, please contact:\n \nPlaza\nDori Keren, CEO +48 22 231 99 00 \n \nFTI Consulting \nDido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000\n \nNotes to Editors\n \nPlaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: \"PLAZ\", WSE: \"PLZ/PLAZACNTR\") and, on the Tel Aviv Stock Exchange. Plaza Centers N.V. is an ...