Global City Holdings
Investor Relations
Archive
26

Feb

Current report No.10 /2008 dated 26 February 2008: PURCHASE OF THE COMPANY SHARES BY INSIDERS

With reference to the current report no. 42/2007 of 13 December 2007 Cinema City International N.V. with its corporate seat in Amsterdam, The Netherlands, (the "Company") informs that on 26 February 2008 the Company was informed by all its members of the Board of Managing Directors and one member of its Board of Supervisory Directors that their affiliated company (in the meaning of Article 160.2.4.(a) of the Polish Act on Trading in Financial Instruments dated 29 July 2005) - the Company’s majority shareholder – I.T. International Theatres Ltd. with its registered office in Herzlia Pituah, Israel, acquired 109,000 shares in the Company.

 

The legal title to the Company shares was transferred to I.T. International Theatres Ltd. by those participants of the 2006 Long Term Incentive Plan that for the purpose of the exercise of the options under the 2006 Long Term Incentive Plan of the Company (the “Plan”) were pre-financed by I.T. International Theaters Ltd.

 

The sale of share transactions were made outside the regulated market on 25 February 2008 in accordance with the terms and conditions of share sale contracts executed between the respective optionees under the Plan and I.T. International Theatres Ltd on 4 December 2007. The share price for each share (PLN 34) equals to the share price at which the Company shares were sold by I.T. International Theatres Ltd on the Warsaw Stock Exchange on 6 December 2007. The acquisition of the shares by I.T. International Theatres Ltd. was a reverse transaction mirroring the sale by I.T. International Theatres Ltd. of 109,000 shares in the Company (please see the current report No.42/2007 of 13 December 2007).

Legal grounds: Art..160.4 of the Act on Trading in Financial Instruments of 29 July 2005 in conjunction with Art. 56.1 of the Act on Public Offerings, Conditions governing the Introduction of Shares to Organized Trading and on the Public Companies..

 

A signature of persons authorised to represent the Company:

Mr. Israel Greidinger – a Managing Director, proxy