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LONDON (Alliance News) - Plaza Centers NV said Thursday it has signed an agreement to sell its remaining holdings in a plot of land in Lodz, Poland to an unnamed local developer for EUR1.1 million.
The sale is for 47,860 square metres of land.
Under the terms of the agreement, a conditional sale agreement will be signed by September 3 following due diligence. In addition, a definitive agreement will be signed no later than October 15, and 50% of the cost will be paid no later than December 10.
The payment will be secured by a mortgage on the plot of land.
Shares in Plaza Centers closed 33% lower at 15.00 pence on Thursday.