(Alliance News) - Plaza Centers NV said on Thursday that following a request by the purchaser, it has extended the sale of the 74.7 acre land plot in Chennai, India by an additional three months.
Under the agreement's terms, the purchaser has paid a deposit of EUR625,000 to gain an additional three months to March 3 2020 to complete the closing of the purchase. This may be extended by another three months until June 3 next year provided the purchaser makes an additional payment.
If the purchaser is unable to complete the closing within the stipulated time periods, a real estate consulting firm will be appointed to identify a third-party buyer for the land within six months.
An extension was previously granted in June this year.
Shares in Plaza Centers closed at untraded at 2.46 pence on Thursday in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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Plaza (PLAZ)