Plaza Centers N.V. UPDATE RE CASA RADIO & 2012 DISPOSAL OF US ASSETS (5838J)
April 03 2018 - 3:30AM
UK Regulatory
TIDMPLAZ
RNS Number : 5838J
Plaza Centers N.V.
03 April 2018
3 April 2018
PLAZA CENTERS N.V.
UPDATE RE CASA RADIO AND 2012 DISPOSAL OF US ASSETS
Plaza Centers ("Plaza" or the "Company") announces that, further
to the comments included in the financial results announced on 29
March 2018 and the previous announcements made on 21 April 2017
with respect to the Casa Radio Project in Romania and on 21
November 2017, Elbit Imaging Limited ("Elbit"), Plaza's major
shareholder, has agreed a penalty payment with the Securities
Exchange Commission ("SEC") in the United States of America (the
regulator with regard to Elbit's NASDAQ listing). The SEC published
a report on 9 March 2018 in which it set out its findings with
regard to certain contracts entered in to and payments made by
Plaza (which was at the time a subsidiary of Elbit) between 2006
and 2012 in connection with the Casa Radio project in Romania and
the sale of Elbit and Plaza's interests in a portfolio of shopping
malls first announced on 11 January 2012.
The full text of the SEC's report is available at
https://www.sec.gov/enforce/34-82849-s
Since 2012, Plaza has made significant changes to update and
strengthen its financial controls and corporate governance in order
to address the issues identified by SEC and to prevent any
recurrence. In addition, a review is ongoing, as announced on 21
November 2017, with regard to one of the payments referred to by
the SEC made in 2012 and which should have been treated as a
related party transaction under the Listing Rules. Plaza is
currently investigating this matter and seeking appropriate advice
as to whether any retrospective disclosures or other actions may be
required under the Listing Rules.
Further announcements will be made as appropriate.
Ends
For further details, please contact:
Plaza
Avi Hakhamov, Acting CEO +361 610 4523
FTI Consulting
Dido Laurimore / Claire Turvey / Tom Gough +44 20 3727 1000
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 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 on the NASDAQ Global Market in the United States. Plaza
Centers has been active in real estate development in emerging
markets for over 22 years.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCMMGGDNFFGRZG
(END) Dow Jones Newswires
April 03, 2018 03:30 ET (07:30 GMT)
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Plaza Centers N.v (LSE:PLAZ)
Historical Stock Chart
From Apr 2023 to Apr 2024