Execution of agreement with Imax® Corporation
Cinema City International N.V. with its corporate seat in Amsterdam, The Netherlands, (the "Company") notifies that it has signed an agreement (the “Agreement”) with IMAX® Corporation. According to the Agreement the Company gains an exclusive right to operate IMAX® theatres in Israel (except of Eilat city). The Agreement provides also for digitalization of all IMAX® theatres operated by Cinema City International in the CEE countries. The Company has already installed a digital projector in its IMAX® theatre in Łódź, Poland, thus in the future it is going to install additional 8 digital projectors in remaining locations.
The first master agreement between Cinema City International and IMAX® Corporation has been signed in 1998. Based on this agreement the Company has exclusive rights to operate IMAX® theatres in Poland, Hungary, the Czech Republic, Bulgaria, Romania.
Please find below a press relase, including comments of CEOs of both companies.