The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPlaza Regulatory News (PLAZ)

Share Price Information for Plaza (PLAZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 50.00
Bid: 40.00
Ask: 60.00
Change: 0.00 (0.00%)
Spread: 20.00 (50.00%)
Open: 50.00
High: 50.00
Low: 50.00
Prev. Close: 50.00
PLAZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE REGARDING A LAWSUIT

19 Jun 2023 14:42

RNS Number : 1983D
Plaza Centers N.V.
19 June 2023
 

June 19, 2023

 

PLAZA CENTERS N.V.

UPDATE REGARDING A LAWSUIT AGAINST ENTITIES INVOLVED IN THE SALE OF U.S.A SHOPPING CENTERS IN 2011

 

Plaza Centers N.V. ("Plaza" or the "Company") announces today, further to its announcement dated October 15, 2020, regarding the filing of a lawsuit by the Company and Elbit Imaging Ltd. ("Elbit") against certain parties (certain officers of the Company and Elbit, a portion of the heirs of the late Mr. Motti Zisser (the Company's and Elbit's former controlling shareholder) and other parties) (the "Respondents") who were involved in a transaction of the Company and Elbit for the sale of real estate properties in the U.S.A. in 2011 and for which funds (brokerage fees) were allegedly illegally transferred to private companies controlled by the late Mr. Motti Zisser (the "Lawsuit"); and further to the Company's announcement dated August 10, 2021 and to the details provided in Note 16(b)(5) in the Company's annual consolidated financial statements for the year 2022 regarding the approval by the District Court of an application submitted by one of the respondents, Mr. Philip Meyer, for the dismissal in limine of the Lawsuit and the appeal submitted by the Company and Elbit to the Supreme Court on November 14, 2021; and further to the Company's announcement dated May 31, 2023 regarding the fact that the Company's and Elbit's appeal was accepted by the Supreme Court; the Company hereby announces that a settlement agreement has been reached between the plaintiffs and two of the Respondents. The court approved the settlement agreement and gave it the effect of a judgment and imposed a publication ban on its details. According to the provisions of the settlement agreement, the Company's portion after deducting expenses is a few hundred thousand euros and should be received over a period of several months, and the Company and Elbit will continue to handle the legal proceeding in the District Court while each party shall maintain all of its claims in the main proceeding.

 

Ends

For further details, please contact:

 

Plaza

 

Ron Hadassi, Executive director; 972-526-076-236

 

Forward-looking statement

 

This press release may contain forward-looking statements with respect to the completion of the transaction. Such statements are based on current expectations, estimates and projections of Plaza Centers N.V. and information currently available to the Company. Plaza Centers N.V. cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements.

 

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange, and, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange ("PLAZ").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
STRFLFVVRDIALIV
Date   Source Headline
2nd Oct 201411:00 amRNSSuccessful sale of Kragujevac Plaza in Serbia
4th Sep 20148:30 amRNSDisposal
28th Aug 20145:20 pmRNSHalf Yearly Report
13th Aug 20148:30 amRNSHalf Year Results - Change of Date
21st Jul 201410:00 amRNSCompletion of Debt Restructuring
10th Jul 201410:00 amRNSDutch Court Approves Debt Restructuring Plan
9th Jul 20143:30 pmRNSBoard Changes
8th Jul 20141:00 pmRNSResult of AGM
26th Jun 201410:36 amRNSOutcome of creditors meeting
23rd Jun 20146:20 pmRNSELBIT AGREEMENTS REGARDING POTENTIAL RIGHTS ISSUE
18th Jun 20142:08 pmRNSUPDATE
13th Jun 20141:00 pmRNSDUTCH RESTRUCTURING PROCEEDINGS UPDATE
2nd Jun 20148:00 amRNSDebt Restructuring Presentation
28th May 20148:30 amRNSDEBT RESTRUCTURING PROCESS UPDATE
27th May 201411:00 amRNSNotice of AGM
27th May 20147:30 amRNSDebt Restructuring Process Update
23rd May 20142:30 pmRNSInterim Management Statement
16th May 201410:30 amRNSRestructuring process update
26th Mar 20143:00 pmRNSRESTRUCTURING PROCESS UPDATE
13th Mar 20148:41 amRNSFull Year results for the year ended 31 Dec 2013
3rd Mar 20144:40 pmRNSSecond Price Monitoring Extn
3rd Mar 20144:35 pmRNSPrice Monitoring Extension
13th Feb 20148:00 amRNSUPDATED DEBT RESTRUCTURING PRESENTATION
30th Jan 201410:00 amRNSPlaza Centers N.V. announces 2014 reporting dates
15th Jan 20149:30 amRNSHolding(s) in Company
13th Jan 20149:30 amRNSPLAZA COMPLETES SALE OF UJ UDVAR PROJECT
7th Jan 20144:40 pmRNSSecond Price Monitoring Extn
7th Jan 20144:35 pmRNSPrice Monitoring Extension
2nd Jan 20142:30 pmRNSHolding(s) in Company
19th Dec 20133:00 pmRNSResult of EGM
28th Nov 20131:15 pmRNSHolding(s) in Company
27th Nov 20134:00 pmRNSUpdate
21st Nov 20139:00 amRNSUpdate
18th Nov 20133:30 pmRNSUpdate
18th Nov 20133:00 pmRNSInterim Management Statement
18th Nov 20138:00 amRNSUpdate
14th Nov 20133:07 pmRNSSTANDARD & POOR'S UPDATES CREDIT RATING
14th Nov 20137:30 amRNSUpdate
14th Nov 20137:00 amRNSAgreement to sell Indian Shopping Mall
8th Nov 20134:00 pmRNSPLAZA COMPLETES REFINANCING LOAN FOR RIGA PLAZA
7th Nov 20134:33 pmRNSNotice of EGM
31st Oct 201310:50 amRNSPlaza completes sale of Dream Island project
23rd Aug 20137:00 amRNSHalf Yearly Report
22nd Jul 20133:12 pmRNSS&P UPDATES CREDIT RATING
18th Jul 201311:30 amRNSPlaza Centers Completes Sale of Prague 3
20th Jun 201312:00 pmRNSResult of AGM
18th Jun 20138:00 amRNSINDEPENDENT REPORT RE ELBIT IMAGING
7th Jun 201311:03 amRNSINDEPENDENT REPORT RE ELBIT IMAGING
31st May 20138:00 amRNSInterim Management Statement
29th May 201312:00 pmRNSDisposal

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.