PLAZ Plaza Centers N.v.

TIDMPLAZ

RNS Number : 8853Y

Plaza Centers N.V.

13 May 2019

May 13, 2019

PLAZA CENTERS N.V.

UPDATE REGARDING THE AGREEMENT TO SELL ITS HOLDINGS

IN THE PROJECT IN BANGALORE, INDIA

Plaza Centers N.V. ("Plaza" or the "Company") announced today, further to its press release dated April 10, 2019, regarding understandings with the purchaser of the 100% interest in a Special Purpose Vehicle (the "Purchaser"), held by Elbit Plaza India Real Estate Holdings Limited (a subsidiary held by the Company (50%) and Elbit Imaging Ltd. (50%)) ("EPI")) ,which holds a site in Bangalore, India (the "Plot"), that the Purchaser defaults on payment of INR 10 crores (Circa EUR 1.27 million) (Plaza part EUR 0.635 million) on account of the consideration for the Plot.

EPI has initiated legal process to protect its interest while it continues to negotiate with the Purchaser for payment of the amount due.

Ends

For further details, please contact:

Plaza

   Avi Hakhamov, Acting CEO                                                           +36 1 6104523 

Notes to Editors

Plaza 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 has been active in real estate development in emerging markets for over 23 years.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 13, 2019 13:15 ET (17:15 GMT)

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