LEAWOOD, Kan.–(BUSINESS WIRE)–AMC Leisure Holdings, Inc. (NYSE: AMC) (“AMC” or the “Firm”) at present introduced that to additional bolster its money reserves, AMC filed a shelf registration at present with the U.S. Securities and Change Fee to allow the issuance and sale of as much as 43 million shares of the Firm’s Class A Widespread Inventory occasionally by an “at-the-market” fairness providing program.
Moreover, and importantly, AMC additionally introduced at present that its Board of Administrators will now not search stockholder approval to amend its constitution to extend by 500 million the overall variety of approved shares (“Proposal 1”) at AMC’s annual assembly.
Adam Aron, CEO and President of AMC stated, “We now have beforehand identified that the sale of as much as 43 million AMC shares, the at the moment out there quantity for potential issuance beneath a earlier shareholder authorization, ought to greater than fulfill AMC’s liquidity wants for 2021. This assumes an anticipated restoration within the patronage of film theatres within the second half of this yr. In asking AMC shareholders to vote on approving one other 500 million approved shares, we famous that our objective was to extend long run optionality and suppleness for AMC, however that we had no intention of really issuing any of these 500 million shares within the rapid time period.”
Aron continued, “We imagine our shareholders will respect and profit from our bolstering AMC’s money reserves with the potential sale of as much as 43 million shares as detailed in an S-3 submitting at present. Nevertheless, as to the request for 500 million additional shares to be approved, a lot of our stockholders are telling us to attend. It is very important pay attention to those house owners of our firm, and that’s precisely what we’re going to do. Accordingly, we is not going to vote on Proposal 1 at our Might 4 Annual Assembly of Shareholders. With a long run view, we proceed to imagine that this proposal could be useful to AMC and to our shareholders, and we’re more likely to revisit a proposal to extend the variety of approved shares in some unspecified time in the future sooner or later.”
The annual assembly stays scheduled for Tuesday, Might 4, 2021 at 2:00 p.m. (Central Time) on the AMC Theatre Assist Heart, One AMC Means, 11500 Ash Avenue, Leawood, Kansas 66211 at which era AMC will course of the vote on the steadiness of Firm’s proposals. The Board continues to advocate a “FOR” vote for all proposals.
This press launch is for informational functions solely and it doesn’t symbolize a suggestion to promote or the solicitation of a suggestion to purchase any of the Firm’s Class A Widespread Inventory. There shall be no sale of Class A Widespread Inventory in any jurisdiction during which one could be illegal.
Extra Data and The place to Discover It
This communication could also be deemed solicitation materials in respect of the Annual Assembly of stockholders (the “Annual Assembly”) of AMC Leisure Holdings, Inc. (“AMC” or the “Firm”). This communication doesn’t represent a solicitation of any vote or approval. In reference to the Annual Assembly, the Firm has filed with the SEC and has mailed or in any other case offered to its stockholders a proxy assertion relating to the enterprise to be performed on the Annual Assembly. The Firm may additionally file different paperwork with the SEC relating to the enterprise to be performed on the Annual Assembly. This doc shouldn’t be an alternative choice to the proxy assertion or some other doc which may be filed by the Firm with the SEC.
BEFORE MAKING ANY VOTING DECISION, THE COMPANY’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO IN ITS ENTIRETY AND ANY OTHER DOCUMENTS FILED BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS TO BE CONDUCTED AT THE ANNUAL MEETING.
Stockholders might receive a free copy of the proxy assertion and different paperwork the Firm recordsdata with the SEC (when out there) by the web site maintained by the SEC at www.sec.gov. The Firm makes out there freed from cost on its investor relations web site at www.investor.amctheatres.com copies of supplies it recordsdata with, or furnishes to, the SEC.
Members within the Solicitation
The Firm and its administrators, government officers and sure workers and different individuals could also be deemed to be members within the solicitation of proxies from the Firm’s stockholders in reference to the enterprise to be performed on the Annual Assembly. Safety holders might receive data relating to the names, affiliations and pursuits of the Firm’s administrators and government officers within the Firm’s Annual Report on Type 10-Ok for the fiscal yr ended December 31, 2020, which was filed with the SEC on March 12, 2021 (the “2021 Type 10-Ok”). To the extent the holdings of the Firm’s securities by the Firm’s administrators and government officers have modified because the quantities set forth within the Firm’s 2021 Type 10-Ok, such modifications have been or shall be mirrored on Statements of Change in Possession on Type 4 filed with the SEC.
Ahead Trying Statements
This communication consists of “forward-looking statements” inside the that means of the federal securities legal guidelines. In lots of circumstances, these forward-looking statements could also be recognized by way of phrases similar to “will,” “might,” “might,” “would,” “ought to,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “signifies,” “tasks,” “targets,” “targets,” “targets,” “predicts,” “plans,” “seeks,” and variations of those phrases and comparable expressions. Examples of forward-looking statements embody statements we make relating to any potential providing, the impression of COVID-19, future attendance ranges and our liquidity. Any forward-looking assertion speaks solely as of the date on which it’s made. These forward-looking statements might embody, amongst different issues, statements associated to AMC’s present expectations relating to the efficiency of its enterprise, monetary outcomes, liquidity and capital assets, and the impression to its enterprise and monetary situation of, and measures being taken in response to, the COVID-19 virus, and are based mostly on data out there on the time the statements are made and/or administration’s good religion perception as of that point with respect to future occasions, and are topic to dangers, traits, uncertainties and different details that might trigger precise efficiency or outcomes to vary materially from these expressed in or recommended by the forward-looking statements. These dangers, traits, uncertainties and details embody, however will not be restricted to, dangers associated to: AMC’s potential to acquire further liquidity, which if not realized or inadequate to generate the fabric quantities of further liquidity that shall be required until it is ready to obtain extra normalized ranges of working revenues, possible would end in AMC in search of an in-court or out-of-court restructuring of its liabilities;; the impression of the COVID-19 virus on AMC, the movement image exhibition business, and the financial system normally, together with AMC’s response to the COVID-19 virus associated to suspension of operations at theatres, personnel reductions and different cost-cutting measures and measures to keep up essential liquidity and will increase in bills regarding precautionary measures at AMC’s services to guard the well being and well-being of AMC’s clients and workers; AMC’s vital indebtedness, together with its borrowing capability and its potential to fulfill its monetary upkeep and different covenants; the way, timing and quantity of profit AMC receives beneath the CARES Act or different relevant governmental advantages and help; the impression of impairment losses; movement image manufacturing and efficiency; AMC’s lack of management over distributors of movies; intense competitors within the geographic areas during which AMC operates; elevated use of other movie supply strategies or different types of leisure; shrinking unique theatrical launch window; AMC Stubs A-Listing not assembly anticipated income projections; common and worldwide financial, political, regulatory and different dangers; limitations on the provision of capital; AMC’s potential to refinance its indebtedness on favorable phrases; availability of financing upon favorable phrases or in any respect; dangers regarding impairment losses, together with with respect to goodwill and different intangibles, and theatre and different closure prices; and different elements mentioned within the experiences AMC has filed with the SEC. Ought to a number of of those dangers, traits, uncertainties or details materialize, or ought to underlying assumptions show incorrect, precise outcomes might differ materially from these indicated or anticipated by the forward-looking statements contained herein. Accordingly, you might be cautioned to not place undue reliance on these forward-looking statements, which communicate solely as of the date they’re made. Ahead-looking statements shouldn’t be learn as a assure of future efficiency or outcomes and won’t essentially be correct indications of the instances at, or by, which such efficiency or outcomes shall be achieved. For an in depth dialogue of dangers, traits and uncertainties going through AMC, see the part entitled “Threat Elements” within the Firm’s 2021 Type 10-Ok filed with the SEC, and the dangers, traits and uncertainties recognized in its different public filings. AMC doesn’t intend, and undertakes no obligation, to replace any data contained herein to mirror future occasions or circumstances, besides as required by relevant regulation.
About AMC Leisure Holdings, Inc.
AMC is the most important film exhibition firm in the US, the most important in Europe and the most important all through the world with roughly 950 theatres and 10,500 screens throughout the globe. AMC has propelled innovation within the exhibition business by: deploying its Signature power-recliner seats; delivering enhanced meals and beverage decisions; producing higher visitor engagement by its loyalty and subscription applications, web page and cellular apps; providing premium giant format experiences and taking part in all kinds of content material together with the most recent Hollywood releases and unbiased programming. For extra data, go to www.amctheatres.com.
Web site Data
This press launch, together with different information about AMC, is obtainable at www.amctheatres.com. We routinely submit data which may be vital to traders within the Investor Relations part of our web site, www.investor.amctheatres.com. We use this web site as a way of exposing materials, personal data and for complying with our disclosure obligations beneath Regulation FD, and we encourage traders to seek the advice of that part of our web site often for vital details about AMC. The data contained on, or which may be accessed by, our web site shouldn’t be included by reference into, and isn’t part of, this doc. Buyers fascinated by mechanically receiving information and knowledge when posted to our web site may go to www.investor.amctheatres.com to join electronic mail alerts.
Class: Firm Launch