Plaza Centers NV - Amsterdam, Netherlands-based real estate developer - Receives revised proposal from investment firm GC Hevron Capital Ltd, as part of plan to preserve Plaza Centers assets, repay bondholders but also allow for new flow of activity in company so it can "maximize profits". Plaza to allocate just shy of 75% of shares in company to Hevron. Remaining stock to be divided among Plaza shareholders and bondholders. In this proposal, Plaza Centres to allocate 74.99% of shares to Hevron, with remaining 25.1% to be divided among shareholders and bondholders. Shareholders to receive 12.% and bondholders 12.6%. This differs from a July 9 proposal which divided it as 10.1% for shareholders and 15% for bondholders.
Current stock price: 425.00 pence
Year-to-date change: up sharply from 30p
By Eric Cunha; ericcunha@alliancenews.com
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Plaza (PLAZ)