Directorate change and Board Committees

RNS Number : 1567B

Cineworld Group plc

28 February 2014

 



THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, NEW ZEALAND, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

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

Directorate change and Board Committees

Cineworld Group plc confirms the following changes to its Board which have taken effect post completion of the combination of the Company with the cinema operations of Global City Holdings N.V. (formerly Cinema City International N.V.) ("GCH") (the "Combination"):

·      Stephen Wiener has stepped down as Chief Executive Officer and as a director of the Board. He will remain an employee of the Company until 31 March 2014.

·      Moshe (Mooky) Greidinger has replaced Stephen Wiener as Chief Executive Officer and has been appointed as an Executive Director of the Company. He has stepped down from his previous role as Chief Executive Officer of GCH and now holds a non-executive role at GCH.

·      Israel Greidinger has been appointed as Chief Operating Officer and an Executive Director of the Company. He has stepped down from his previous role as Chief Financial Officer of GCH and now holds a non-executive role at GCH. Israel is also a director of Ronson Europe N.V.

·      Scott Rosenblum has been appointed as a Non-Executive Director of the Company and will also serve as a member of the Company's Nomination Committee. Scott has resigned from his previous role as supervisory director of GCH.

·      Arni Samuelsson has been appointed as a Non-Executive Director of the Company and will also serve as a member of the Company's Nomination Committee.

There is no other information required to be disclosed under Listing Rule 9.6.13R.

Following completion of the Combination, the composition of the Nomination, Remuneration and Audit Committees of the Board is as follows:

Nomination Committee

Eric (Rick) Senat (Chair)
Scott Rosenblum
Arni Samuelsson

Remuneration Committee

Peter Williams (Chair)
David Maloney
Martina King

Audit Committee

David Maloney (Chair)
Peter Williams
Martina King

The composition of each of these Committees is in accordance with the UK Corporate Governance Code.

Cineworld Chairman Anthony Bloom said:

"With these changes the next chapter begins for Cineworld. I would like to thank Steve once more on behalf of the board for creating this business and leading it to become the UK's number one cinema chain. Steve is a visionary and Cineworld and its shareholders are extremely grateful for his efforts over the years. It is fitting that acknowledged leaders in the European cinema industry are now joining the Board as executives and I welcome Mooky and Israel warmly in anticipation of the expertise they will bring."

For further details please contact:

Cineworld Group PLC	[phone]
Philip Bowcock, Chief Financial Officer
Bell Pottinger Financial and Corporate	[phone]
Elly Williamson
Charlotte Offredi

DISCLAIMER

This announcement is an advertisement and not a prospectus. Investors or potential investors should not subscribe for or otherwise acquire any Rights Issue Shares referred to in this announcement except on the basis of information in the Prospectus. Copies of the Prospectus are available from the registered office of the Company at Power Road Studios, 114 Power Road, Chiswick, London W4 5PY.

This announcement does not constitute an offer to sell or the solicitation of an offer to purchase any securities in any jurisdiction in which such offer or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.  In particular, the information contained herein is not for publication or distribution, directly or indirectly, in or into Australia, Canada, New Zealand or the United States.  No public offering of the Provisional Allotment Letters, the Nil Paid Rights, the Fully Paid Rights or the Rights Issue Shares is being made in any such jurisdiction. The Provisional Allotment Letters, the Nil Paid Rights, the Fully Paid Rights and the Rights Issue Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or  under any securities laws of any state or other jurisdiction of the United States, and may not be offered, sold, resold, or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States.

The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law, and, therefore, persons into whose possession this announcement comes should inform themselves about and observe any such restrictions.

Neither the content of the Company's website nor GCH's website nor any website accessible by hyperlinks on the Company's or GCH's website is incorporated in, or forms part of, this announcement.

 

END

 

 

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