Business
Cineplex Inc. Announces Deferral of Filing First Quarter Financial Statements
Cineplex Inc. Announces Deferral of Filing First Quarter Financial Statements Cana...
About this update from Cineplex Inc.
[{"type":"text","content":"\n\n\n\nCineplex Inc. Announces Deferral of Filing First Quarter Financial Statements\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 7, 2020\n\n\n\nTORONTO, May 7, 2020 /CNW/ - (TSX: CGX) – Cineplex Inc. (\"Cineplex\" or the Company) today announced that as a result of its continued focus on managing the business in response to the ongoing COVID-19 pandemic, the Company will delay the filing of its interim financial statements and related management discussion and analysis for the three month period ended March 31, 2020. Originally due by May 15, 2020, the Company will rely on the blanket relief provided by the Canadian Securities Administrators (the \"CSA\"), which provides for up to a 45-day extension for periodic filings normally required to be made by reporting issuers on or before June 1, 2020, and will report its first quarter results no later than June 29, 2020.\n\n \n \n \n \n \n \n\n \nThe following material business developments of Cineplex have occurred since February 12, 2020, being the date Cineplex filed its financial results for the three months and year ended December 31, 2019: \nOn February 18, 2020, Cineplex announced that the Ontario Superior Court of Justice (Commercial List) granted a final order approving its previously-announced plan of arrangement in connection with the proposed transaction in which an indirect wholly-owned subsidiary of Cineworld Group plc (LSE: CINE) agreed to acquire all of the issued and outstanding common shares of Cineplex for $34 per share in cash (the \"Transaction\"). On March 16, 2020, Cineplex announced that in response to growing global concerns around the spread of COVID‐19 and various Canadian government directives, it would be temporarily closing its network of theatres and location‐based entertainment venues across Canada starting March 16, 2020, through to April 2, 2020. On March 16, 2020, Cineplex also provided an update on the Transaction, indicating that closing of the Transaction remains subject to the satisfaction or waiver of certain conditions ...