May 2020 Financial News

CinemaONE Limited - Notification of Material Change

May 20, 2020

The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from CINE1 advising that the Ministry of Communications of the Government of the Republic of Trinidad and Tobago issued an official advisory dated May 11th, 2020 entitled Reopening of Trinidad and Tobago, in response to the ongoing Covid-19 public health pandemic. The said advisory indicates the opening of cinemas in the fifth phase of a staggered societal reopening process. While the advisory did not specify the exact date for the fifth phase to commence, Cine1 expects the mandated closure of its cinema operations to extend through June 2020. Such closure extension will have a materially adverse impact on Cine1’s revenue and profits for the near term quarter, April-June 2020, or the Company’s third quarter of Fiscal 2020.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Wednesday 20th May, 2020