AFI

Armstrong Flooring Schedules Earnings Release and Conference Call for Fourth Quarter and Full Year 2018 Results

LANCASTER, Pa.--(BUSINESS WIRE)--Armstrong Flooring, Inc. (NYSE:AFI) (“Armstrong Flooring” or the “Company”), North America’s largest producer of resilient flooring products, announced today that the Company will release its fourth quarter and full year 2018 financial results before the market opens on Tuesday, March 5, 2019. A conference call will be held that same day at 11:00 a.m. Eastern Time to review financial results, discuss recent events and conduct a question-and-answer session.

Webcast:

The conference call will be available through the “Investors” section of the Company’s website, www.armstrongflooring.com. To listen to a live broadcast, participants are advised to go to the site at least 15 minutes prior to the scheduled start time in order to register, download and install any necessary audio software.

To Participate in the Telephone Conference Call:Dial in at least 5 minutes prior to start time:Domestic: 1-877-407-0789International: 1-201-689-8562

About Armstrong Flooring

Armstrong Flooring, Inc. (NYSE:AFI) is a global leader in the design and manufacture of innovative flooring solutions that inspire spaces where people live, work, learn, heal and play℠. Headquartered in Lancaster, Pennsylvania, Armstrong Flooring is a leading manufacturer of resilient products across North America. The Company safely and responsibly operates 8 manufacturing facilities globally, working to provide the highest levels of service, quality and innovation to ensure it remains as strong and vital as its 150-year heritage. Learn more at www.armstrongflooring.com.

PLZ list intencyjny z AFI Europe NV

Plaza Centers N.V. (“Plaza” or the “Company”) announced today, following a previous announcement on a number of offers received, that it has signed a non-binding Letter of Intent ("LOI") with AFI Europe N.V. (the "Purchaser", and together with the Company, the "Parties"), an indirectly wholly-owned subsidiary of Africa Israel Properties Ltd., an Israeli Company listed on TA-90 Index (the top 90 companies traded on the Tel Aviv Stock Exchange), for the sale of its entire indirect shareholdings (75%) in the Casa Radio Project (the "Project"), for a maximum consideration of EUR 60 million (the "Transaction"), subject to the fulfilment of certain conditions.As of this date, the Company indirectly holds 75% of the shares in the Project, whilst the remaining 25% are held by the Romanian authorities (15%) and a third-party private investor (10%). Following the execution of the LOI, the Purchaser shall have a period of 3 months to conduct due diligence investigations (with the aim of concluding the due diligence investigations before April 19, 2019), after which, if satisfactory, a pre-sale agreement will be executed within 30 days following the conclusion of the due diligence investigations (the "Pre-Sale Agreement"). In the framework of the Pre-Sale Agreement, the Purchaser will pay the Company a non-refundable down payment. 15 months following the execution of the Pre-Sale Agreement, and subject to the satisfactory fulfillment of certain conditions precedent, the Parties will sign a sale agreement (the "Sale Agreement"). The consummation of the Transaction is subject to the fulfillment of certain conditions, including, inter alia: (i) certain confirmations and approvals of competent public authorities regarding the PPP agreement in place and acceptance of the Purchaser; (ii) the successful conclusion by the Purchaser of its due diligence investigations; (iii) obtaining the approval of the Romanian authorities for the updated structure of the Project and timetable; (iv) confirmation that the 49-year lease period under the PPP agreement (signed between the Romanian Authorities and the Company) will commence from 2012 at the earliest, although, should the said lease period commence earlier, the parties shall amicably negotiate a price adjustment mechanism to the Purchaser's satisfaction and approval; and (v) the execution of definitive agreements. During the period commencing on the date of the execution of the LOI and ending on the earlier of: (i) 18 month, or (ii) the Purchaser informs the Company of his withdrawal from the Transaction, the Company and its representatives have undertaken to refrain from negotiating with any other third party other than the Purchaser for the purpose of selling its shareholdings in the Project.   The payment schedule is expected to be set as follows: Non-refundable down payment EUR 200,000 Execution of Sale Agreement (following fulfillment of the conditions precedent) EUR 20,000,000 Issuance of Building Permit for Phase 1 (the construction of the shopping mall, offices/residential, Hotel& Casino, Supermarket and parking). EUR 22,000,000 Finalization and inauguration of Phase 1 EUR 17,800,000 Plaza is not obligated to participate in the financing of the Project. In addition, the Purchaser acknowledged the liability to build the public authority building under the PPP agreement. As of the date hereof, there can be no certainty that either the Pre-Sale Agreement, nor the Sale Agreement will be executed and/or that the Transaction will be consummated as presented above or at all. The LOI is governed by the laws of Romania. Ends For further details, please contact: Plaza Avi Hakhamov, Acting CEO +36 1 6104523 Forward-looking statements This press release may contain forward-looking statements with respect to the possibility of completing the Transaction with the Purchaser. 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. Plaza Centers N.V. has no obligation to update the statements contained in this press release, unless required by law. Notes to Editors Plaza Centers N.V. (www.plazacenters.com) is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: “PLAZ”, WSE: “PLZ/PLAZACNTR”) and, on the Tel Aviv Stock Exchange. Plaza Centers has been active in real estate development in emerging markets for over 23 years.

DataTytułKursZmiana

2019-02-11

PLZ wypowiedzenie umowy przez Elbit Imaging Ltd.

3,15

+4,76

2019-02-11

PLZ list intencyjny z AFI Europe NV

3,15

0,00

2019-02-05

PLZ PRE-AGREEMENT FOR THE SALE OF A LAND PLOT IN BRASOV, ROMANIA

3,40

-0,29

2019-02-04

PLZ UPDATE REGARDING THE AGREEMENT TO SELL ITS HOLDINGS IN THE PROJECT IN BANGALORE, INDIA

3,37

-0,59

2019-01-14

PLZ UPDATE REGARDING THE TERM SHEET FOR THE SALE OF THE PLOT IN CHENNAI, INDIA

3,55

+7,61

2019-01-08

PLZ payment to the holders od series A and series B bonds

3,75

-4,53

2019-01-07

PLZ UPDATE REGARDING THE TERM SHEET FOR THE SALE OF THE PLOT IN CHENNAI, INDIA

4,19

-10,50

2019-01-02

PLZ updated corrected presentation to the bondholders

3,20

+5,63

2019-01-02

PLZ updated presentation to the bondholders

3,20

+0,63

2018-12-27

PLZ DEFINITIVE AGREEMENT FOR THE SALE OF A PLOT IN GREECE

2,72

+8,09

AFI Europe may take over big unfinished project in Bucharest for EUR 60 mln

Israeli group AFI Europe on February 11 signed a non-binding letter of intent with Plaza Centers NV to acquire the majority stake in the Casa Radio project, in downtown Bucharest.

The total value of the offer amounts to EUR 60 million, the company announced in a press release.

Casa Radio, whose construction started during the communist regime, is one of the largest unfinished projects in Bucharest.

Plaza Centers, which was a subsidiary of Israeli group Elbit until the end of 2018, reportedly invested EUR 85 million in demolishing part of the Casa Radio structure, plus design and foundation consolidation until 2010 when the project entered into preservation. In March 2018, Elbit agreed to pay a USD 500,000 fine in the US to settle a case related to unjustified payments worth some USD 27 million that Plaza Centers had made to offshore consultancy firms. Some of the money may have reached the pockets of corrupt politicians in Romania to speed up the Casa Radio project.

Plaza Centers is currently in the process of exiting the Romanian market, where it also owns several land plots for development, which it bought before the 2008 crisis. If the Casa Radio deal goes through, AFI Europe will become the majority shareholder in this project with a 75% stake. The Romanian state controls 15% of the project, and third-party investors hold the remaining 10%.

"Casa Radio is a landmark in Bucharest and the acquisition of the project is in line with our expansion strategy. Given the early stage of this acquisition, we will provide up-to-date purchasing information and plans for this project as the process advances," said Doron Klein, CEO of AFI Europe Romania.

AFI Europe Romania owns the largest shopping mall in Bucharest, AFI Cotroceni. It also has a mall in Ploiesti and another one under construction in Brasov, as well as two office projects and a residential project in Bucharest.

editor@romania-insider.com