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    EVT   AU000000EVT1

EVENT HOSPITALITY & ENTERTAINMENT LIMITED

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

11/10/2020 | 04:01pm EDT

6 November 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 ("Vue") (the "Transaction").

Vue has applied for, and the German Federal Cartel Office ("FCO") has granted, a further extension to 14 December 2020 of the deadline for completion of the divestment process required for FCO approval of the Transaction.

All cinemas in Germany, including those operated by Cinestar, were closed by the German Government with effect from 2 November 2020 in response to COVID-19 and will remain closed until 30 November 2020.

Authorised for release by the Board

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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Event Hospitality and Entertainment Ltd. published this content on 06 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2020 21:00:07 UTC


© Publicnow 2020
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Sales 2021 601 M 441 M 441 M
Net income 2021 -100 M -73,6 M -73,6 M
Net Debt 2021 434 M 318 M 318 M
P/E ratio 2021 -20,6x
Yield 2021 -
Capitalization 2 020 M 1 484 M 1 483 M
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Number of Analysts 4
Last Close Price 12,53 AUD
Average target price 12,23 AUD
Spread / Average Target -2,41%
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Managers and Directors
Jane M. Hastings CEO, Managing Director & Executive 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