Opening of a Cinema City Arena megaplex in Budapest, Hungary
The Board of Managing Directors of Cinema City International N.V. (the “Company”) is informing about the opening on 16 January 2008 of a new megaplex in Budapest, Hungary.
Cinema City Arena megaplex is the Company’s 13th cinema in Hungary. Megaplex offers 23-screens with over 3 800 seats, including one IMAX screen. It is located on a leased area of the new shopping center Arena in Budapest.
Funds spent on this investment were primarily sourced from the Company’s own funds and from proceeds gained in its initial public offering.