Update on Regal Dissenting Shareholders Agreement

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 Israel Greidinger Nisan Cohen Manuela Van Dessel	[phone] [e-mail]
Finsbury James Leviton Ed Treadwell	[phone] [e-mail]

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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