The Claeys family has today decided to place 1,600,000 shares (via Petercam) with institutional investors. Joost Bert becomes sole CEO and Managing Director of Kinepolis Group SA/NV as Florent Gijbels steps down from the position of Managing Director. The shareholding syndicate between the Bert and Claeys families is ended. The Bert family is to increase its holding in Kinepolis Group to at least 40%.
As part of an OTC transaction, the Claeys family has placed 1,600,000 shares (23.08%) on the market with institutional investors at an average price of ¤ 35.5 per share. This increases the free float of the Kinepolis share to 57.70%, promoting the liquidity of the stock. The Claeys family's holding will fall from 25% to 1.92%. As part of the transaction, the Claeys family has granted the Bert family an option on the remaining shares they hold. The Bert family currently owns 38.90% of the shares in the group.
The reduction in the holding of the Claeys family is part of an agreement with the Bert family to end the shareholder agreement between the two families as regards company policy.
In future, control of Kinepolis Group will be in the hands of the Bert family, which has been active in the cinema sector for four generations. The Bert believes in the future of the sector and is looking forward full of confidence to the challenges resulting from changing consumer patterns and technological progress.
Florent Gijbels is stepping down as Managing Director of Kinepolis Group, but will continue to sit on the Board of Directors. The Bert family and the Board of Directors would like to thank Florent Gijbels for his commitment and the contribution he has made to the management and expansion of Kinepolis Group as CEO over the past nine years.
Marie-Rose Claeys-Vereecke is resigning as Co-Chairman and will receive the honorary title of 'Co-Founder and Honorary Chairman' in appreciation of her outstanding contribution to the development of the company.
The day-to-day management of Kinepolis Group will henceforth be fully in the hands of Joost Bert, who until now has shared the position of Managing Director with Florent Gijbels.
The Board of Directors will shortly be strengthened by the arrival of external and independent directors.
The company's strategy remains unchanged and focuses as a priority on the creation of shareholding value by: n Upgrading the "customer experience" n Enhancing the value of real-estate assets n Expansion in core markets n Strengthening the Kinepolis brand n Digitalisation n An active dividend policy
----------------------------------- About Kinepolis Group Since its creation in 1997 following the merger of the Bert and Claeys groups and its subsequent listing on the stock exchange in 1998, the Kinepolis Group has become Belgium's market leader and a prominent player on the European market. Kinepolis Group has 22 cinema complexes in Belgium, France, Spain, Poland and Switzerland and employs over 1900 people. The group entertained 22.6 million cinemagoers in 2005. The key to the success of the Kinepolis concept is its innovative drive and its customer-oriented approach. Kinepolis Group belongs to the select group of cinemas in the world that can offer digital cinema featuring the revolutionary DLP technology. The group now has an extensive platform of digital projectors in Belgium, France and Spain. In addition to digital Hollywood productions, cinemagoers can now experience alternative content in digital format, such as prestigious events, TV series, live concerts and sports competitions. Sites and buildings are a vital asset for Kinepolis Group. The total surface area owned by the group amounts to almost 860 000 m², including 360 000 m² in cinema buildings, 450 000 m² in parking facilities, and 50 000 m² in areas rented out for concessions, and land and buildings awaiting development.
