Kinepolis Group NV announces an Equity Buyback for 410,958 shares.
January 14, 2018
Share
Kinepolis Group NV (ENXTBR:KIN) commences share repurchases on January 15, 2018 under the program mandated by the shareholders in the Extraordinary General Meeting held on May 11, 2016. As per the mandate, the company is authorized to repurchase up to 410,958 shares. The shares will be repurchased at a price that must not be lower than the accounting par value per share and not higher than one hundred and 115% of the closing price at which the shares were listed on Euronext Brussels on the day preceding the day of the purchase or exchange, in such a way that the company as well as direct subsidiaries within the meaning of Article 627 of the Companies Code and persons acting in their own name but on behalf of the company or such a direct subsidiary shall at no time hold shares with an accounting par value higher than 20% of the issued capital of the company. The repurchased shares will be used to cover options issued under the 2016 Share Option Plan in accordance with the Companies Code. The share repurchase program is valid for 5 years.
On December 22, 2017, the company authorized the repurchase of 360,000 own shares from January 15, 2018 to September 30, 2018.
Kinepolis Group NV specializes in operating multiplex movie theaters. The activity is organized around 3 areas:
- operation of cinema multiplexes: sale of tickets, confectionery, and beverages, sale of advertising space, event organization, etc. At the end of 2023, the group has a network of 109 cinemas in Belgium (11), Canada (36), the Netherlands (19), France (18), the United States (10), Spain (10), Luxembourg (3), in Switzerland and Poland;
- leasing of commercial spaces: restaurants, outlets, etc.;
- other: cinematographic distribution and production, and technical services (primarily technical assistance and projector maintenance; Decatron).