Director UpdateSource: RNS
12 December 2022
CINEWORLD GROUP PLC
(the "Company or Cineworld")
Cineworld Group plc ("Cineworld") announces that Forum Film Ltd ("Forum Film"), its Israeli distribution subsidiary, has agreed with the Israeli Anti-Trust Authority that it was in breach of the terms of a merger agreement from 2010 (by failing to provide 8 movies to a single cinema in Tel Aviv since the merger agreement) and that Mooky Greidinger, CEO of Cineworld, was indirectly responsible for failing to prevent such breach. As a result of this agreement, an Israeli court has fined Forum Film approximately £150,000 and has fined Mooky Greidinger personally approximately £23,000 and given him a 6 month suspended prison sentence (conditional on him having no further anti-trust offences in the next 24 months).
The judgment is not expected to have any impact on the continued operations of Forum Film Ltd, Cineworld Group plc or Mooky Greidinger's position as CEO of Cineworld Group plc.