| |
MESSAGE (ENGLISH VERSION) | |
| |
Purchase of a 55% interest in a plot of land in the city of Stara
Zagora, Bulgaria
With reference to the current report No. 14/2008 of 28 March 2008, the
Board of Managing Directors of Cinema City International N.V. with its
corporate seat in Amsterdam, the Netherlands (the "Company") hereby
announces that all of the conditions precedent have been met for the
purchase by the Company's wholly owned Dutch subsidiary - IT Sofia BV,
of shares in the Bulgarian company, M.O. Stara Zagora OOD (formerly
known as Grand Galleria OOD) , and that the closing of transaction was
completed successfully on 9 July 2008, and the purchase price was paid
in full.
The Company announces that IT Sofia BV purchased 55% the shares in M.O.
Stara Zagora OOD, including the shares that were initially to be
purchased by Ocif Eastern Europe Ltd. The other 45% are still held by
the original shareholders of the company. The Company anticipates that
the process of its formal registration as shareholders of all 55% of the
shares shall be completed within 2 months.
The total share price was EUR 5,400,000.
Upon closing the transaction, the Company, through its subsidiary IT
Sofia BV, holds 55% percent stake in M.O. Stara Zagora OOD, which owns a
9,200 sq. m. plot of land in the city of Stara Zagora, Bulgaria.
The plot will be used for the construction of a shopping mall with a
Cinema City multiplex located therein.
Legal grounds: Art. 56.1.1 of the Act of 29 July 2005 on Public
Offerings, Conditions Governing the Introduction of Financial
Instruments to Organized Trading and on Public Companies.
| |
|
