UNI - EN REPORT No21/2014
Plaza today announces that, following the Dutch Court (‘the Court’) approving the Dutch restructuring plan (the “Plan”) on 9 July 2014, it has received confirmation that the decision of the Court has become irrevocable and, as a result, the date of 18 July 2014 is the “Effective Date” as defined in the Plan on which the Plan becomes binding and effective.
As a consequence of the confirmation decision becoming final, the suspension of payment proceedings, which commenced on 18 November 2013, has today come to an end and the Company has successfully emerged from the reorganization proceedings. Accordingly, the administrator appointed by the Court to manage the affairs of the Company alongside the existing management is no longer in office and Plaza’s management has resumed full control of the business.
All information regarding Plaza’s debt restructuring process is available to view on the Company’s website at www.plazacenters.com.
For further details, please contact:
Ran Shtarkman, President and CEO +36 1 462 7221
Roy Linden, CFO +36 1 462 7222
Stephanie Highett / Nina Legge +44 20 3727 1000
Notes to Editors
Plaza Centres N.V. (www.plazacenters.com) is a leading emerging markets developer of shopping and entertainment centres with operations in Central and Eastern Europe and India. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres. The Company is dual listed on the Main Board of the London Stock Exchange and, as of 19 October 2007, the Warsaw Stock Exchange (LSE:”PLAZ”, WSE: “PLZ/PLAZACNTR”). Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. (“EI”), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and the NASDAQ Global Market in the United States. It has been active in real estate development in emerging markets for over 18 years.