30/11/2011 - 6.30 am
The Kinepolis Group NV announces that it will initiate the next share buy back programme in further implementation of the mandate authorised at the Extraordinary General Meeting of 20 May 2011.
An agent has been mandated to buy back a maximum of 300,000 own shares on or outside the stock market on behalf of the Kinepolis Group NV in the period between 1 December 2011 and 29 February 2012. Kinepolis thus initiated the next phase of its share buy back programme. Kinepolis already bought 300,000 own shares in the period between 1 September 2011 and 8 November 2011. The number of own shares currently amounts to 577,231.
Kinepolis aims to optimise its capital structure and create value for its shareholders via the repurchasing of own shares and the recently implemented reduction of the company's capital.
The share buy back will be carried out in accordance with the conditions stipulated in the authorisation granted by the Extraordinary General Meeting of 20 May 2011. This mandate authorises the Board of Directors to buy a maximum of 1,108,924 own shares, subject to certain conditions, 1,074,270 intended for cancellation and 34,654 intended to cover new options at a price not below the accounting par value per share and not in excess of 115 % of the closing price at which the shares are quoted on Euronext Brussels on the day preceding the day of purchase. The timing of the purchase of own shares in accordance with the programme is dependent upon a number of factors, including market conditions. The programme can be terminated at any time.
During the course of the programme, the company will inform the market about the purchased shares at regular intervals and in accordance with the applicable regulations.
Kinepolis Group NV
Public limited company, which is offering, or offered, an issue for general subscription
Eeuwfeestlaan 20, 1020 Brussels
Company registration number VAT BE 0415.928.179 RPR Brussels