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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Event Hospitality & Entertainment Limited    EVT   AU000000EVT1

EVENT HOSPITALITY & ENTERTAINMENT LIMITED

(EVT)
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Event Hospitality & Entertainment : Sale of Cinestar - Transaction Update

08/21/2020 | 01:56am EST

21 August 2020

ASX ANNOUNCEMENT

SALE OF CINESTAR - TRANSACTION UPDATE

EVENT Hospitality & Entertainment Limited (the "Group") today provided an update regarding the sale of its German cinema exhibition operation ("Cinestar") to Vue International Bidco plc (the "Transaction").

As previously announced on 2 March 2020, the Transaction was conditionally approved by the German Federal Cartel Office ("FCO") subject to the divestment of six sites to FCO approved purchasers within a six-month period. A sale has been completed in respect of one of these six sites. The FCO has provided an extension of time for satisfaction of its conditions in respect of the remaining five divestment sites until 13 November 2020 and a sales process is ongoing.

Authorised for release by the Company Secretary

Further information

ASX Company Security Code:

EVT

Telephone:

+61 2 9373 6600

Contact:

David Stone (Company Secretary)

Email:

David_Stone@evt.com

EVENT HOSPITALITY & ENTERTAINMENT LIMITED | ACN 000 005 103

478 GEORGE STREET SYDNEY NSW 2000 | GPO BOX 1609 SYDNEY NSW 2001 | +61 2 9373 6600

CINEMAS | EVENT | BCC | GU FILM HOUSE | CINESTAR | MOONLIGHT

HOTELS & RESORTS | RYDGES | QT | ATURA | THREDBO

STATE THEATRE | EDGE DIGITAL | EDGE SERVICED OFFICES

Disclaimer

Event Hospitality and Entertainment Ltd. published this content on 21 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 August 2020 05:56:27 UTC


© Publicnow 2020
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Financials
Sales 2021 665 M 491 M 491 M
Net income 2021 86,7 M 64,0 M 64,0 M
Net Debt 2021 400 M 296 M 296 M
P/E ratio 2021 20,4x
Yield 2021 0,39%
Capitalization 1 762 M 1 302 M 1 301 M
EV / Sales 2021 3,25x
EV / Sales 2022 2,23x
Nbr of Employees -
Free-Float 56,4%
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Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 9,66 AUD
Last Close Price 10,93 AUD
Spread / Highest target 2,47%
Spread / Average Target -11,7%
Spread / Lowest Target -20,1%
EPS Revisions
Managers
NameTitle
Jane M. Hastings CEO, Managing Director & Director
Alan G. Rydge Non-Executive Chairman
Richard Gordon Newton Independent Non-Executive Director
Peter Roland Coates Lead Independent Non-Executive Director
Valerie Anne Davies Independent Non-Executive Director