Current report No. 6/2013 of 9 April 2013: Execution of preliminary binding lease agreements with Globe Trade Centre SA for multiplexes in Warsaw, Poland
The Board of Managing Directors of Cinema City International N.V. (the "Company") informs that Cinema City Poland - CC sp. z o.o. S.K.A. (“Cinema City Poland”), a wholly-owned subsidiary of the Company incorporated and existing under the laws of Poland, executed preliminary binding lease agreements with Centrum Swiatowida sp. z o.o. and Centrum Handlowe Wilanów sp. z o.o., both subsidiaries of Globe Trade Centre SA, companies incorporated and existing under the laws of Poland.
In accordance with the above-mentioned agreements Cinema City Poland will lease:
- approx. 3 300 sqm in the shopping center in Galeria Białołęka in Warsaw constructed by Centrum Swiatowida sp. z o.o.. The future Cinema City multiplex will have 11 screens.
- Approx. 4 000 sqm in the shopping center Galeria Wilanów in Warsaw constructed by Centrum Handlowe Wilanów sp. z o.o.. The future Cinema City multiplex will have 12 screens.
The lease agreements have been concluded for ten years with three options of extending the lease term, each time for another five years, and contain standard provisions, typical for agreements of such kind. The Company will be required to pay monthly rent on market standards consisting of 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.