Global City Holdings
Investor Relations
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31

May

Current report No. 10/2013 of 31 May 2013: Execution of binding lease agreement with Polus Transilvania Companie de Investitii SA for an existing multiplex in Cluj, Romania.

The Board of Managing Directors of Cinema City International N.V. (the "Company") informs that Cinema City Romania SRL (“Cinema City Romania”), a wholly-owned subsidiary of the Company incorporated and existing under the laws of Romania, executed a binding lease agreement with Polus Transilvania Companie de Investitii SA, subsidiary of Immofinanz, a company incorporated and existing under the laws of Romania. Cinema City will be leasing approx. 3 000 sqm to operate an existing 8screen multiplex in the shopping center Polus Center in the city of Cluj. The multiplex is the Company’s second multiplex in the city.

 

The lease agreements have been concluded for seven 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.