Reading International, Inc. (NASDAQ:RDI) announced today that the
company's board of directors has authorized management, at its
discretion, to spend from time to time up to an aggregate of $10,000,000
to acquire shares of Reading’s Common Stock.
This approved stock repurchase plan will supercede and effectively
cancel the existing program that was approved by the board on May 14,
2004 which allowed management to purchase up to 350,000 shares of
Reading’s Common Stock. Under this plan 245,675 shares have been
repurchased, as of today’s date.
The repurchase program will allow Reading to repurchase its shares from
time to time in accordance with the requirements of the Securities and
Exchange Commission on the open market, in block trades and in privately
negotiated transactions, depending on market conditions and other
factors. All purchases are subject to the availability of shares at
prices that are acceptable to Reading, and accordingly, no assurances
can be given as to the timing or number of shares that may ultimately be
acquired pursuant to this authorization.
Reading is currently active in the open market buying back its shares.
About Reading International, Inc.
Reading International (http://www.readingrdi.com)
is in the business of owning and operating cinemas and developing,
owning and operating real estate assets. Our business consists primarily
of:
the development, ownership and operation of multiplex cinemas in the
United States, Australia and New Zealand; and
the development, ownership, and operation of retail and commercial
real estate in Australia, New Zealand, and the United States,
including entertainment-themed retail centers (“ETRC”) in Australia
and New Zealand and live theater assets in Manhattan and Chicago in
the United States.
Reading manages its worldwide business under various different brands:
in the United States, under the
Reading brand (http://www.readingcinemasus.com);
Angelika Film Center brand (http://www.angelikafilmcenter.com);
Reading International, Inc. is an entertainment and real estate company. The Company is engaged in the development, ownership, and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. The Companyâs segments are Theatrical Motion Picture Exhibition (Cinema Exhibition), and Real Estate. The Cinema Exhibition segment is engaged in cinema experiences for its guests through hospitality-styled comfort and service, state-of-the-art cinematic presentation, designed venues, curated film, and event programming, and crafted food and beverage options. The Companyâs Real Estate segment is engaged in the real estate business through the development and its ownership and rental or licensing to third parties of retail, commercial, and live theatre assets. Its commercial brands include Reading Cinemas, Consolidated Theatres, Angelika Film Center, State Cinema, Angelika Anywhere, 44 Union Square, Newmarket Village, and Cannon Park.
READING INTERNATIONAL, INC. 
