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Mar

Current report no 13/2008 dated 25 march 2008: A new Cinema City multiplex to be run in Ploiesti, Romania – execution of the lease agreement

 

The Board of Managing Directors of Cinema City International N.V. (the "Company") informs that Cinema City Romania SRL, a wholly-owned subsidiary of the Company incorporated and existing under the laws of Romania, executed the lease agreement with S.C. BOREKAS , a company incorporated and existing under the laws of Romania.
 
In accordance with the above-mentioned lease agreement Cinema City Romania SRL will lease area in the shopping center in Ploiesti, Romania constructed by S.C. BOREKAS. The area will be used by the Company to operate the multiplex cinema as specified below:

No.
City
Leased area
(ca. in sqm)
Number of screens
Number of seats
Expected opening date
1.
Ploiesti
ca 2 000-2 500
ca 8
approx 1,300
4th quarter 2009

The lease agreement has been concluded for ten years with three options of extending a lease term, each time for another five years, and contains standard provisions, typical for agreements of such kind. The Company will be required to pay a monthly rent on a market standards consisting of a 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.
 
The multiplex in the shopping center in Ploiesti will be the 24th Cinema City multiplex in Romania and the second Company’s multiplex in this city.
 
 
 
Legal grounds: Art. 56.1.1 of the Act of 29 July 2005 on public offering and conditions governing the introduction of financial instruments to trading in the organized trading system and on public companies.
 
 
Signatures of persons authorised to represent the Company
Mr. Israel Greidinger – proxy