28th Feb 2014 10:59
LONDON (Alliance News) - Cineworld PLC said Friday it has completed its combination with the cinema operations of Global City Holdings, and has made a number of changes to its management board.
Cineworld said it has issued just over 65 million new fully paid ordinary shares to GCH, representing 24.9% of Cineworld.
Cineworld said its issued share capital as of Friday February 28 consists of 263,458,780 ordinary shares of one pence each.
Announced with the deal was a number of changes to the Cineworld board. The firm said Stephen Wiener has stepped down as Chief Executive Officer and as a director of the Board. He will remain an employee of the company until March 31, 2014.
Moshe Greidinger has been appointed to replace Wiener as CEO and has been appointed as an executive director. He has stepped down from his previous role as CEO at GCH and now holds a non-executive role at GCH.
Cineworld has also appointed a new Chief Operating Officer in Israel Greidinger. Greidinger has also been appointed as an executive director. He has stepped down from the CFO role at GCH and now holds a non-executive role at GCH.
Cineworld Chairman Anthony Bloom said, "With these changes the next chapter begins for Cineworld. I would like to thank Steve once more on behalf of the board for creating this business and leading it to become the UK's number one cinema chain. Steve is a visionary and Cineworld and its shareholders are extremely grateful for his efforts over the years. It is fitting that acknowledged leaders in the European cinema industry are now joining the Board as executives and I welcome Mooky and Israel warmly in anticipation of the expertise they will bring."
Shares in Cineworld were trading down 0.04% at 316.625 pence per share Friday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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