Global City Holdings
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18

Apr

Current Report No. 04/2012 dated 18 April 2012 - Granting of the share options to a member of the Management Board of Cinema City International N.V.

The Management Board of Cinema City International N.V. (the “Company”) hereby announces that on 18 April 2012, based on the decision of the Supervisory Board of the Company, dated 5 April 2012, approving the proposal of the Management Board, Mr Amos Weltsch (the “Grantee”), being a member of the Management Board of the Company and its Chief Operating Officer, was granted, as a part of his remuneration package, 650,000 share options, each entitling the Grantee to subscribe for one share in the Company at the issue price of PLN 29 per share (the “Options”). The proposed price is based on a six-month average share price of the shares in the Company listed on the Warsaw Stock Exchange in the period between 31 Aug 2011 and 29 Feb 2012.

The Options will vest in forty-seven (47) equal monthly tranches of 13,542 Options, each on the last day of each month in the period from 30 April 2012 to 29 February 2016, with an additional tranche of 13,526 Options vesting on 31 March 2016. The Grantee may exercise the Options vested to him in each of the tranches on multiple occasions within two (2) years from the date the given tranche of Options was vested.

The Options have been granted to the Grantee subject to the approval of the shareholders of the Company. The respective motion will be filed at the upcoming Annual General Meeting of the Company.

Legal grounds: Article 5:53 and subsequent Articles 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 the individuals authorized to represent the Company:

Nissim Nisan Cohen