Cineworld Group PLC - Brentford, UK-based movie theatre operator - Confirms receipt of judgement for the claim by dissenting shareholders of Regal Entertainment Group, arising from its USD3.4 billion acquisition by Cineworld in February 2018.
Amount of judgement comes in the region of USD255 million, in line with the fair value of the original transaction plus interest.
Cineworld is currently prohibited from making payments for the liability by the terms of its USD450 million loan facility, aside from any payments made from the proceeds of an equity raise or from subordinated debt.
Cineworld said in light of its liquidity, it can deal with the judgement without breaching the facility's terms.
Current stock price: 89.72 pence
Year-to-date change: up 40%
By Dayo Laniyan; email@example.com
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