Allotment of the Offer Shares and issue of the New Shares
In accordance with the section „Eligible Investors” in „The Offering” chapter of the Prospectus, the Management Board of Cinema City International N.V. with a seat in Amsterdam (the "Company") informs that on 5 December 2006, in line with the timetable included in the Prospectus, the Offer Shares were allotted to Investors who subscribed for and paid for the shares offered in the Offering.
Retail Investors were allotted a total of 1.600.000 Shares offered in the Offering. As the Retail Investors subscribed for a greater number of shares that was initially offered to them, the subscriptions placed by the Retail Investors were reduced by 95.65% i.e. the allocation rate amounted to 4.35%.
The Retail Investors that have not been allotted any Offer Shares or whose subscriptions for the Shares have been reduced shall receive reimbursements of cash payments or reduced payments as described in the Prospectus.
Institutional Investors were allotted 16,414,004 Offer Shares. As the Institutional Investors subscribed for the number of shares that equals to the number of the Offer Shares initially offered to them on the Pricing Date, their subscriptions were not reduced and the number of Offer Shares allotted to Institutional Investors equals to the number of shares subscribed for by them. At the same time, given the Offer Price of PLN 19.30, the demand of the Institutional Investors in the book building process was 10 times larger than the total number of Offer Shares.
In connection with the Offering, on December 5th, 2006, the Management Board of the Company, with the consent of the Superivsory Board, resolved to issue 10,000,000 ordinary bearer shares with a nominal value of EUR 0.01 .Under Dutch law the issuance of shares is effected at the time of the adoption of the respective resultion by the competent governing body of the company, and other actions such as. court registration of new share issue is not required to effect the share capital increase.
As a result, after the New Shares issue, the paid-up and issued share capital amounts to EUR 507.240 and divides into 50.724.000 ordinary bearer shares with a nominal value of EUR 0.01 each.
The Management Board of the Company informs that a detailed report summarizing the results of the Offering, referred to in § 33.1 of the Ordinance of the Minister of Finance dated 19 October 2005 on the Current and Periodical Information to be Provided by Issuers of Securities (Dz. U. 2005, No. 209, item 1744) will be issued on the date specified in this Ordinance.
Capitalized terms not defined in this current report shall have the meaning assigned to them in the Company's prospectus published on November 21, 2006. .
Legal grounds: Art. 56.1. of the Act on Public Offering, Conditions Governing the Introduction of Financial Instruments to Organized Trading, and Public Companies (Dz. U z 2005 r. No 184, pos. 1539 as amended)