Global City Holdings
Investor Relations
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27

Apr

Current report No.10/2010 dated 27 April 2010: Transaction in the Company shares by Insiders

Cinema City International N.V. with its seat in Amsterdam, The Netherlands, (the "Company") informs that on 26 April 2010 the Company was informed by three members of the Board of Managing Directors and one member of the Supervisory Board of the Company that their affiliated company (in the meaning of art. 160.2 of the Polish Act on Trading in Financial Instruments dated 29 July 2005), i.e., the Company’s majority shareholder – I.T. International Theatres with its registered office in Herzlia Pituah, Israel, sold 341,000 shares in the Company. The shares were sold on the regulated market - Warsaw Stock Exchange in the session block trade on 23 April 2010 at the share price of PLN 34 for each share. The transaction will be settled on 28 April 2010.

The sale of shares was effected purely to facilitate the realization of the 2006 Long Term Incentive Plan (the “Plan”) and finance the acquisition by the eligible optionees of the Company shares to be issued in the exercise of the options granted to them by the Company under the Plan.

The legal title to the same number of the Company shares (i.e., 341,000 newly issued shares) will be transferred by optionees to I.T International Theatres Ltd. upon share issuance by the Company under the Plan.

Therefore, in a short term, the shareholding of I.T. International Theatres Ltd. in the Company will be the same as before the sale of shares described in this current report.

 

 


Legal grounds: 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 Art.160.4 of the Act on Trading in Financial Instruments of 29 July 2005 and 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.