RNS Number : 0996J
Plaza Centers N.V.
22 October 2024
October 22nd, 2024
PLAZA CENTERS N.V.
UPDATE REGARDING ARBITRATION AGAINST ROMANIA WITH RESPECT TO THE "CASA RADIO" PROJECT
Further to its last announcement dated July 17th, 2024, Plaza Centers N.V. ("Plaza" or the "Company") announces today that, on 21st October, 2024 Plaza submitted its response to the London Court of International Arbitration regarding the arbitration initiated by the Ministry of Finance of Romania over the "Casa Radio" project.
Plaza denies all claims made by Romania and has filed a counterclaim seeking damages for Romania's breaches of the Public-Private Partnership (PPP) Agreement in respect of the loss of the value of its 75% shareholding in the Project Company.
The hearing for the ICSID arbitration, initiated by Plaza against Romania, is scheduled to commence in November 2024.
Ends
For further details, please contact:
Plaza
Ron Hadassi, Executive Director; 972-526-076-236
Notes to Editors
Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange (LSE: "PLAZ"), on the Warsaw Stock Exchange (WSE: "PLZ/PLAZACNTR") and on the Tel Aviv Stock Exchange ("PLAZ").
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