(Alliance News) - Cinema operator Cineworld Group PLC said Friday a trust run for the benefit of Chief Executive Moshe Greidinger and Deputy Chief Executive Israel Greidinger's children acquired GBP2.2 million shares in the company.
According to Cineworld's website, Moshe Greidinger and Israel Greidinger are brothers.
Global City Holdings BV bought 1 million shares in Cineworld on Thursday. The company did not disclose the price Global City paid per share but did note the aggregate cost of the transaction was GBP2.2 million.
Shares in Cineworld were 3.7% higher in London in afternoon trade on Friday at 219.80 pence each.
Shares in Global City Holdings and Global City Theatres BV are held in a trust for the benefit of the children of Moshe Greidinger, CEO of Cineworld, and Israel Greidinger, deputy CEO of the company.
Global City Holdings is the parent company of Global City Theatres.
Moshe is a non-executive director of Global City Holdings. Israel worked for Global City Holdings for two decades, between 1994 and 2014, before joining Cineworld.
Following the completion of this deal, the two trusts hold a 28% interest in Cineworld.
