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14

Nov

Current report No. 21/2013 dated 14 November 2013 Closing of share purchase agreement of Ronson Europe NV shares with General Electric Capital Corporation

In reference to the current report no 14/2013 dated 21 July 2013 the Board of Managing Directors of Cinema City International N.V. (the "Company") announces that on 14 November 2013 its fully owned subsidiary ITR 2012 BV (“ITR 2012”)  and  U. Dori Group (“Dori”), following satisfaction of all conditions precedent, closed an agreement with General Electric Capital Corporation (“GECC”) to purchase indirectly 41,800,000 shares in Ronson Europe NV (“Ronson”) representing 15.3% of share capital of Ronson. These shares carry 41,800,000 votes at the General Meeting of Ronson.  

 

The total price for the shares paid by ITR 2012 and Dori is approximately PLN 29.2 million, of which ITR 2012 paid an approximate amount of PLN 14.6 million.

 

Upon completion of the transaction the Company and Dori hold, directly and indirectly, 216,698,374 shares in Ronson representing 79.56% of the total votes and total number of shares in Ronson, and the Company is an economic beneficiary of 39.78%-stake in Ronson.