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MESSAGE (ENGLISH VERSION) | |
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A new Cinema City multiplex to be run in Bucharest, Romania – execution
of the lease agreement
The Board of Managing Directors of Cinema City International N.V. (the
"Company") informs that Cinema City Romania SRL, a wholly-owned
subsidiary of the Company incorporated and existing under the laws of
Romania, executed the lease agreement with S.C. BEL ROM NOUA SRL, a
company incorporated and existing under the laws of Romania.
In accordance with the above-mentioned lease agreement Cinema City
Romania SRL will lease area in the Colentina Shopping Center in
Bucharest, Romania constructed by S.C. BEL ROM NOUA SRL. The area will
be used by the Company to operate the multiplex cinema as specified
below:
No. City Leased area (ca. in sqm) Number of screens Number of seats
Expected opening date
1. Bucharest 3,000-3,500 12 approx 2,400 1st quarter 2010
The lease agreement has been concluded for ten years with three options
of extending a lease term, each time for another five years, and
contains standard provisions, typical for agreements of such kind. The
Company will be required to pay a monthly rent on a market standards
consisting of a fixed rent calculated on the basis of the leased area
and the management fee for the benefit of the management company of each
shopping mall.
The multiplex in the Colentina Shopping Center will be the 5th Cinema
City multiplex in Bucharest and the 20th Company’s multiplex in Romania.
Legal grounds: Art. 56.1.1 of the Act of 29 July 2005 on public offering
and conditions governing the introduction of financial instruments to
trading in the organized trading system and on public companies.
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