Plaza Regulatory News (PLAZ)

13 Dec 2007 13:00

Plaza Centers N.V.13 December 2007 PLAZA CENTERS N.V. ANNOUNCES BOARD APPROVAL OF THE FILING OF A DRAFT PROSPECTUS WITH THE ISRAEL SECURITIES AUTHORITY TEL AVIV, Israel - December 13, 2007 - Plaza Centers N.V. ("Plaza" or the "Company"), a leading emerging markets property developer, today announces thatits board of Directors has authorized the filing of a draft prospectus with theIsraeli Securities Authority ("ISA") and the Tel Aviv Stock Exchange ("TASE") inconnection with a potential offering to the public in Israel of unsecurednon-convertible Series B Notes ("Series B Notes") and its listing in the TASE.The prospectus will also be used to list for trade on the Tel Aviv StockExchange of approximately New Israeli Shekels ("NIS") 305 million (approximatelyEUR 53.3 Million) unsecured non-convertible Series A Notes issued by Plaza toinvestors in Israel in a private transaction in July 2007 ("Series A Notes").The Series A Notes bear an annual interest rate of 5%, which will be reduced to4.5% once they are listed for trade on the TASE. No final decision on either the offering of Series B Notes or the listing ofSeries A Notes and Series B Notes has been made and any offering is subject tothe final approval of Plaza's board of Directors and to the publishing of afinal prospectus and its approval by the ISA. Should an offering of Series B Notes be made, it will be made to persons inIsrael only. Ran Shtarkman, President and CEO of Plaza Centers N.V said: "The contemplated issuance of these Series B Notes is being made in order tofinance our development plans. This flexible approach to financing provides uswith the firepower to drive our ongoing development programme, ensuring that theCompany can act swiftly upon investment opportunities in the Company's targetmarket." For further details, please contact: Plaza CentersMordechay Zisser, Executive Chairman +972 3 608 6000Ran Shtarkman, President and CEO +36 1 462 7221Roy Linden, CFO +36 1 462 7105 Financial Dynamics +44 20 7831 3113Stephanie Highett / Laurence Jones Notes to Editors Plaza Centers N.V. (www.plazacenters.com) is a leading emerging marketsdeveloper of shopping and entertainment centres. It focuses on constructing newcentres and, where there is significant redevelopment potential, redevelopingexisting centres in both capital cities and important regional centres. TheCompany is dual listed on the Main Board of the London Stock Exchange and, as of19 October 2007, the Warsaw Stock Exchange (LSE:"PLAZ", WSE: "PLZ/PLAZACNTR").Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd.("EIL"), anIsraeli public company whose shares are traded on both the Tel Aviv StockExchange in Israel and the NASDAQ Global Market in the United States. Plaza is a member of the Europe Israel Group of companies which is controlled byits founder, Mr. Mordechay Zisser. It has undertaken real estate development inemerging markets for more than 11 years. This information is provided by RNS The company news service from the London Stock Exchange