| |
MESSAGE (ENGLISH VERSION) | |
| |
A new Cinema City multiplex to be run in Plock, Poland – execution of
the lease agreement
The Board of Managing Directors of Cinema City International N.V. (the
"Company") informs that Cinema City Polska Sp z o.o., a wholly-owned
subsidiary of the Company incorporated and existing under the laws of
Poland, executed the lease agreement with Manhattan Development Sp. z
o.o., a company incorporated and existing under the laws of Poland.
In accordance with the above-mentioned lease agreement Cinema City
Polska Sp z o.o. will lease area in the shopping center Galeria Mosty
constructed by Manhattan Development Sp. z o.o. in PÅ‚ock, Poland, a city
of 127 thousand inhabitants. 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. PÅ‚ock 1, 856 8 approx 1,200 4th quarter 2008
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 CC multiplex in PÅ‚ock will be the 31st cinema project in Poland.
Currently the company operates 23 multiplexes in 15 cities in the
country.
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.
| |
|
