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Nov

Execution of 3 lease agreements for Cinema City multiplexes in Poland (23 November 2009)

The Board of Managing Directors of Cinema City International N.V. with its corporate seat in Amsterdam, The Netherlands (the “Company”) announces that the company Cinema City Poland Sp z o.o., a wholly-owned subsidiary of the Company incorporated and existing under the laws of Poland, executed 3 lease agreements (“Agreements”) with the Polish subsidiaries of the company Plaza Centers: Kielce Plaza sp z o.o., Włocławek Plaza sp z o.o. and Toruń Plaza sp z o.o.. The Agreements have been concluded in order to operate cinema multiplexes in the cities of Kielce, Łódź and Toruń respectively in the shopping centers developed by the Polish subsidiaries of the company Plaza Centers. Major parameters of these 3 multiplexes are as follows:

City: Kielce
Name of the shopping mall: Kielce Plaza
Estimated number of screens: 10
Estimated number of seats: 1 600
Estimated leased area: 2 220 sqm
Estimated opening date: 3rd quarter 2012

City: Łódź
Name of the shopping mall: Łódź Plaza
Estimated number of screens: 10-12
Estimated number of seats: 2 800
Estimated leased area: 4 170 sqm
Estimated opening date: 4th quarter 2012

City: Toruń
Name of the shopping mall: Toruń Plaza
Estimated number of screens: 8
Estimated number of seats: 1 500
Estimated leased area: 1 900 sqm
Estimated opening date: 1st quarter 2012


The Agreements have 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.

Following the signature of the Agreements Cinema City will operate 36 multiplexes in Poland. The cinemas in Łódź and Toruń will be the second multiplexes of the Company in these cities. The cinema in Kielce will be the first multiplex of the Company in this city.
 

Press release