Plaza Centers to cut rights offering price to €0.0675 per share

By Caroline Salls

Pittsburgh, Oct. 14 – Elbit Imaging Ltd. subsidiary Plaza Centers NV announced that the rights offering to existing shareholders that will be undertaken as part of Plaza’s debt restructuring will be re-priced at €0.0675 per share, according to an Elbit news release.

Elbit said Plaza noted the movement in its share price since June 23 and elected to reduce the rights offering price to ensure optimal conditions for full participation by shareholders.

The parties to the undertaking and backstop agreement intend to amend those agreements to reflect this change, the release said.

The rights offering remains subject to the approval of Plaza’s board of directors and its shareholders.

Plaza Centers, a subsidiary of Tel Aviv-based Elbit Imaging Ltd., is a developer of shopping and entertainment centers in Central and Eastern Europe, India and the United States.

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