SPARK Advisory Partners Limited (“SPARK”) is pleased to announce that it has advised Plaza Centers N.V (“Plaza”) on a Placing and Rights Issue to raise EUR20m. Plaza is a leading emerging markets developer of shopping and entertainment centres with operations in Central and Eastern Europe and India. It focuses on constructing new centres and, where there is significant redevelopment potential, redeveloping existing centres in both capital cities and important regional centres.
Plaza is a Dutch Company, which is dual listed on the Premium Segment of the Main Market of the London Stock Exchange and also the Warsaw Stock Exchange. The Rights Issue forms part of a wider, complex financial restructuring that Plaza has undertaken over the last year in order to restructure its debt and bondholder arrangements.
The arrangements in relation to the Placing and Rights Issue are subject to shareholder approval at a General Meeting to be held on 28 November 2014 and will result, inter alia, on the Company also listing its shares on the Tel Aviv Stock Exchange. SPARK acted as the UK Sponsor to Plaza.