Global City Holdings
Investor Relations
Archive
18

Dec

Current report No. 19 /2009 dated 18 December 2009: Settlement concluded with Manhattan Development sp. z o.o. on the lease agreement for the Company’s multiplex in Plock, Poland

The Board of Managing Directors of Cinema City International N.V. with its corporate seat in Amsterdam, The Netherlands (the “Company”) in reference with the current report no 38/2007 dated 16 October 2007, 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, concluded the settlement (“Settlement”) with the Polish company Manhattan Development sp z o.o. (“Developer”) .

According to the Settlement the parties mutually agreed that they do not wish to continue the co-operation and lease as agreed in the lease agreement for the cinema in Galeria Mosty in Plock, Poland.

The lease agreement shall be unconditionally dissolved and terminated subject to payment of compensation by the Developer to the Company. Upon the Settlement the Developer should pay the compensation within 30 (thirty) days from the date of conclusion of this Settlement.


Legal grounds: Article 5:53 and subsequent of the Dutch Act of 28 September 2006 on rules regarding the financial markets and their supervision (Act on Financial Supervision – Wft.) in conjunction with Article 56.1.1 and article 56.6 of the Polish Act on Public Offerings, Conditions governing the Introduction of Financial Instruments to Organised Trading and on Public Companies of 29 July 2005