TORONTO,
In their analyses, both ISS and Glass Lewis refer to the premium for Cineplex shareholders, the certainty of value and immediate liquidity from the cash consideration and the inclusion of a go-shop period which allows Cineplex to solicit other offers as factors supporting their FOR recommendations.
The board of directors of Cineplex (the "Board"), after consultation with its financial and legal advisors, and based upon, among other things, the fairness opinion of its financial advisor, has unanimously determined that the Transaction is in the best interests of Cineplex and that the consideration of
The Meeting is scheduled to be held on
Completion of the Transaction is subject to obtaining the required approval of the Cineplex shareholders at the Meeting, the required approval of Cineworld Group shareholders at a general meeting of Cineworld Group shareholders to be held on
Shareholders are encouraged to review the notice of special meeting of shareholders and the management information circular of Cineplex for the Meeting, which provide details concerning the Transaction. Copies of these documents have been mailed to Cineplex shareholders and are also available on SEDAR at www.sedar.com and on Cineplex's Investor Relations website.
Your vote is important. To ensure your vote is represented at the Meeting, Cineplex shareholders are encouraged to vote their shares prior to
Cineplex shareholders who have questions regarding the Transaction or require assistance with voting may contact Cineplex's proxy solicitation agent:
Shorecrest Group
Toll-free inNorth America : 1-888-637-5789
Banks and brokers and collect calls outsideNorth America : 647-931-7454
Email: contact@shorecrestgroup.com
About Cineplex
Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs approximately 13,000 people in its offices across
Caution Regarding Forward-Looking Statements
Certain information included in this news release contains forward-looking statements within the meaning of applicable securities laws. The words "may," "will," "could," "should," "would," "suspect," "outlook," "believe," "plan," "anticipate," "estimate," "expect," "intend," "forecast," "objective" and "continue" (or the negative thereof), and words and expressions of similar import, are intended to identify forward-looking statements.
By their very nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Cineplex's control. The forward-looking statements contained in this news release are based on certain key expectations and assumptions made by Cineplex.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results and experience to differ materially from the anticipated results or expectations expressed in this news release. The key risks and uncertainties include, but are not limited to: general global economic, market and business conditions; governmental and regulatory requirements and actions by governmental authorities; relationships with employees, customers, business partners and competitors; and diversion of management time on the Transaction. There are also risks that are inherent in the nature of the Transaction, including failure to satisfy the conditions to the completion of the Transaction and failure to obtain any required regulatory and other approvals (or to do so in a timely manner). The anticipated timeline for completion of the Transaction may change for a number of reasons, including the inability to secure necessary regulatory, court or other approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Transaction. As a result of the foregoing, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release.
Cineplex does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable Canadian securities law. When reviewing Cineplex's forward-looking statements, readers should carefully consider the foregoing factors and other uncertainties and potential events. A comprehensive discussion of other risks that impact Cineplex can also be found in Cineplex's public filings which are available under Cineplex's profile on SEDAR at www.sedar.com.
SOURCE Cineplex
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