Having bought up some of its shares at the end of 2008 and the beginning of 2009 and placing them in treasury, Plaza Centers has announced it’s now sold them to institutional buyers. Not a bad piece of business either, as the average purchasing price for Plaza was 53 pence (it forked out GPB 7.7m in all). When it put the shares back out on the market, it received 141 pence, or a total of GPB 20.5m. CEO Ron Shtarkman said the money would be put towards expanding its business.
“These substantial proceeds of circa €22 million will be put towards our active development programme across our best performing markets, as well as exploiting opportunities to acquire additional pipeline projects at attractive prices.”