Kinepolis Group NV commences an Equity Buyback Plan for 550,000 shares, representing 2.04% of its issued share capital, under the authorization approved on May 10, 2023.
June 19, 2023 at 11:45 am EDT
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Kinepolis Group NV (ENXTBR:KIN) commences share repurchases on June 13, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on May 10, 2023. As per the mandate, the company is authorized to repurchase its 550,000 shares, representing 2.04% of its issued share capital. The shares will be repurchased at a price per share that is not may be lower than the par value per share and by more than 115% of the closing price at which the shares are quoted on Euronext Brussels on the day preceding that of the purchase or exchange. The repurchased shares will be used to cover share options. This authorization is valid for a period of five years. As of May 11, 2023, the company had 27,365,197 shares in total of which 382,396 were treasury shares
On June 12, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to 200,000 own shares, for a total of €10 million through an independent broker. The repurchases will commence on June 13, 2023, and the program will expire on August 16, 2023.
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).
Kinepolis Group NV commences an Equity Buyback Plan for 550,000 shares, representing 2.04% of its issued share capital, under the authorization approved on May 10, 2023.
KINEPOLIS GROUP NV 
