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4 Aug 2015 10:45
CINEWORLD GROUP PLC
Notification Of Transactions Of Directors, Persons Discharging Managerial Responsibility Or Connected Persons
On 9 June 2015, Global City Holdings N.V. ('GCH') issued a tender offer to repurchase those shares which were not already owned by its majority shareholder I.T. International Theatres Ltd. (which is jointly controlled by Moshe Greidinger and Israel Greidinger). GCH currently owns 28.9% of Cineworld Group plc (the "Group").
The Group has received notification on 3 August 2015 from GCH that it has completed the tender offer buyback of its own shares.
Following the completion of the share buyback Group Directors Moshe Greidinger and Israel Greidinger, are now entitled to exercise 99.75% of the votes at a general meeting of Global City Holdings N.V., up from 57.5% prior to the transaction.
The transaction completed on 28 July 2015 and the number of shares held in the Group by Global City Holdings N.V. remains at 76,626,344.
Commenting on this transaction, Moshe Greidinger, Chief Executive Officer of the Group, said:
"We believe this transaction results in an important simplification of our holding in the Group and further aligns management interests with those of all shareholders."
Contacts
Cineworld Group plc | Bell Pottinger | ||
Israel Greidinger | 020 8987 5000 | Elly Williamson | 020 3772 2573 |
Charlotte Brookmyre | 020 8987 2317 |
Notes to editors
About Cineworld Group plc
Cineworld Group plc was founded in 1995 and listed its shares on the London Stock Exchange in May 2007.
The Company has grown organically and by acquisition to become one of the leading cinema groups in Europe with the number one or number two position by number of screens in each of its regions. Cineworld currently operates 1,944 screens across 210 sites in the UK and Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel.
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