Plaza Centers N.V. has signed a preliminary sale agreement for the disposal of a 2.47 hectare plot in the centre of Kielce, Poland, for €2.28m. As part of the sale process, Plaza has received a down payment of €465,000, while the remaining €1.815m will be paid within eight months of this agreement.
On completion of the transaction, in line with the Company's stated restructuring plan, 75% of the net cash proceeds will be distributed to Plaza's bondholders.
The Company also announces that, further to its statement issued on 8 April 2016 regarding a pre-agreement to sell a development plot in Greece which was due to have completed within a six month period, the purchaser has been provided with an extension to complete the transaction, to the second part of November 2016.
At 9:16am: (LON:PLAZ) Plaza Centers NV share price was 0p at 250p