Global City Holdings
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18

Oct

Current report No. 19/2011 of 18 October 2011: A new Cinema City multiplex to be run in Ploesti, 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 terms with the company S.C.NEPI BUCHAREST THREE 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 approx. 3 400 sqm in the shopping center in Ploiesti, Romania constructed by S.C.NEPI BUCHAREST THREE SRL. The future Cinema City multiplex will have 12 screens and it’s expected to open between the 4th quarter 2013 and the 1st quarter 2014.

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.

 Legal grounds: Article 5:53 and subsequent of the Dutch Act of 28 September 2006 on rules regarding the financial markets and their supervision (Act on Financial Supervision – Wft.) in conjunction with Article 56.1.1 and article 56.6 of the Polish Act on Public Offerings, Conditions governing the Introduction of Financial Instruments to Organized Trading and on Public Companies of 29 July 2005.

Signatures of persons authorised to represent the Company
Mr. Nissim Nisan Cohen – proxy