13 June 2019 – sale/leaseback

The company has announced that it has entered into a sale/leaseback agreement in relation to 18 US-based multi-screen cinemas totalling 255 screens.  This is consistent with the group’s strategy of operating an asset light model and the group will leaseback the cinemas on 15-year leases.  The group will receive cash consideration of $270m and after using some of the proceeds to reduce debt will pay a special dividend of 10.27 US cents per share.  The shares remain ATTRACTIVE.