VGL - Market Announcement

Auckland, New Zealand, 22 August 2022 – Vista Group (NZX & ASX:VGL) updates the market on media speculation regarding the financial position of Cineworld Group Plc (LON:CINE).

Cineworld is the owner of Cineworld (UK), Regal (USA) and Picturehouse (UK) cinema circuits, and is one of the top ten cinema circuits globally. It is a key customer for Vista Group and uses almost all of the Group’s technology.

Cineworld has yet to respond to recent media statements and so the status of its’ financial position, and intended response, remains unclear and unconfirmed. However, it is public information that Cineworld has a significant debt burden. It is also generally understood that the current situation is specific to Cineworld and does not reflect the status of the wider cinema industry.

Vista Group is continuing to monitor the situation closely, but does not expect it to have a material impact on the current year guidance. Some form of receivables provisioning may be required depending on future circumstances.

Kimbal Riley, Vista Group Chief Executive, commented “Cineworld remains a valued Vista Group customer and our technology continues to play a vital role in enabling Cineworld to operate. We will continue to provide the Cineworld team with the best possible support over this challenging time.”

“Given the strength of the recent box office and the quality of the up-coming slate, including movies such as Black Adam, Black Panther: Wakanda Forever and Avatar 2: The Way of Water, we continue to see positive news across the industry and trust that Cineworld will have the opportunity to share fully in that.”

Vista Group releases it FY22 half year results on Monday, 29 August 2022.

For further information please contact:

Matt Cawte
Chief Financial Officer
Vista Group International Limited
Contact: +64 9 984 4570

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