KINEPOLIS GROUP NV Regulated information
8/09/2014 - 17.45pm
Kinepolis Group NV has announced the start of a next phase of the share buyback programme in accordance with the authorization given by the Extraordinary General Meeting of 19 October 2012.
Kinepolis Group NV has announced that on 9 September 2014 the company will launch a a next phase of the share buyback programme whereby an intermediary is authorized to purchase own shares on behalf of Kinepolis Group NV between 9 September 2014 and 27 February 2015, on or outside the stock exchange, for an amount of up to 30 million euros spread over the full term of the programme, and up to a maximum of 1,500,000 own shares.
The share buyback programme is part of the strategy, announced in 2011, to optimize Kinepolis Group's capital structure in the light of increasing value creation for the shareholders. It will be carried out according to the terms of the authorization given by the Extraordinary General Meeting of 19 October 2012 to the Board of Directors to buy back, under certain conditions, up to 5,865,505 (*) own shares with a view to destruction. Following the close of the previous share buyback programme, which ran from 27 May 2013 to 21 February 2014, 4,458,645 (**) own shares still can be bought back.
The timing of the share buyback under the programme depends on a variety of factors, such as the market conditions. The programme can be discontinued at any time.
During the term of the programme, the company will, at regular intervals and in accordance with the applicable regulations, inform the market of the shares that have been bought back.
KINEPOLIS GROUP NV
Public Limited Company that is making or has made a public appeal to savings
Eeuwfeestlaan 20, 1020 Brussels
Enterprise number VAT BE 0415.928.179
RLP Brussels
(*) This maximum is the result of the number of shares which the Board of Directors was authorized to buy back by the general meeting of 19 October 2012 (i.e. 1,171,301), multiplied by five following the split of each share into five new shares of Kinepolis Group NV as of 1 July 2014.
(**) This maximum is the result of the number of shares remaining after the close of the previous share buyback programme, which ran from 27 May 2013 to 21 February 2014, multiplied by five following the split of each share into five new shares of Kinepolis Group NV as of 1 July 2014.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinepolis Group via Globenewswire
