REG - Cineworld Group plc - Update on Regal Dissenting Shareholders Agreement

CineworldAnnouncement

18/02/2022 07:15

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RNS Number : 1163C  Cineworld Group plc  18 February 2022

FOR IMMEDIATE RELEASE

18 February 2022

 

Cineworld Group plc ("Cineworld" or the "Group")

 

Update on Regal Dissenting Shareholders Agreement

 

On 1 February 2022, Cineworld announced that it had initiated discussions with
the former dissenting shareholders of Regal Entertainment Group (the "Regal
Litigation Parties") in relation to a potential rescheduling of the Group's
payment obligations under the unsecured facility agreement relating to the
settlement reached with them in September 2021 (the "Unsecured Facility
Agreement"). Cineworld is pleased to announce that its discussions with the
Regal Litigation Parties have concluded, and that the parties have now agreed
that the remaining $79.3 million (plus interest and fees) owed under the
facility will be paid to the Regal Litigation Parties in instalments with a
final payment due on 30 June 2022, rather than the previously agreed date of
31 March 2022.

 

Contacts:

 Cineworld            +44 (0) 20 8987 5000

 Israel Greidinger    investors@cineworld.co.uk

 Nisan Cohen

 Manuela Van Dessel

 Finsbury

 James Leviton        +44 (0)20 7251 3801

 Ed Treadwell         cineworld-lon@finsbury.com

 

Cautionary note concerning forward looking statements

Certain statements in this announcement are forward looking and so involve
risk and uncertainty because they relate to events, and depend upon
circumstances that will occur in the future and therefore results and
developments can differ materially from those anticipated. The forward looking
statements reflect knowledge and information available at the date of
preparation of this announcement and the Group undertakes no obligation to
update these forward-looking statements.  Nothing in this announcement should
be construed as a profit forecast.

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