Date of Virtual 2020 Annual Meeting of Stockholders Announced by Reading International
October 06 2020 - 9:00AM
Business Wire
Reading International, Inc. (NASDAQ: RDI) announced today that,
due to the public health impact of the coronavirus pandemic
(COVID-19) and to help protect the well-being of our stockholders,
employees, family members and the communities in which they live,
Reading will not hold its 2020 Annual Meeting of Stockholders (the
"2020 Annual Meeting") in person, but rather virtually through a
web-based platform, commencing at 11:00 a.m. Pacific Time, on
December 8, 2020.
Voting online at the virtual
meeting
Registered stockholders and duly appointed proxyholders, as of
the close of business on October 19, 2020 (the record date for the
2020 Annual Meeting), are entitled to join the virtual 2020 Annual
Meeting. Stockholders will be able to communicate, participate in,
listen and vote from any location with appropriate internet
connectivity. Details of how to register for and access the virtual
meeting will be provided in the Company’s 2020 Proxy Statement.
The Company currently intends to commence electronic mailing of
the notice of the 2020 Annual Meeting and definitive Proxy
Statement on or about the close of business October 29, 2020 to
stockholders of record on October 19, 2020. In addition, once filed
the definitive Proxy Statement will be available for viewing on the
Company website,
https://investor.readingrdi.com/financials/sec-filings. Whether or
not stockholders plan to participate in the virtual-only 2020
Annual Meeting, we urge you to vote and submit your proxy in
advance of the meeting by one of the methods described in the proxy
materials for the 2020 Annual Meeting.
Stockholder Proposals Submission
Deadline
Because the scheduled date of the 2020 Annual Meeting represents
a change of more than 30 days from the anniversary of the Company's
2019 Annual Meeting of Stockholders, the Company has set a new
deadline for the receipt of stockholder proposals submitted
pursuant to the provisions of the proxy rules of the U.S.
Securities and Exchange Commission for inclusion in the Company's
proxy materials for the 2020 Annual Meeting. To be considered for
inclusion, such stockholder proposals must be received in writing
by the Company at our corporate headquarters at 5995 Sepulveda
Blvd, Suite 300, Culver City, CA 90230, Attn: S. Craig Tompkins,
Esq., Annual Meeting Secretary, before the close of business on
October 16, 2020.
Litigation Update
On October 1, 2020, the Nevada Supreme Court ordered the Trial
Court to dismiss the putative Derivative Lawsuit being prosecuted
by James J. Cotter, Jr., concluding that Mr. Cotter, Jr. was not an
adequate representative of our Company’s stockholders. In arriving
at this conclusion, the Nevada Supreme Court noted, among other
things, that “because one of the main remedies Cotter Jr. is
seeking is his reinstatement as CEO, his interests are divergent
from the shareholders’ interests” and that “Cotter Jr.’s action
appears to be vindictively sought in response to his termination as
CEO. . .” Our Company is now pursuing collection of the
approximately $800,000 in costs from Mr. Cotter, Jr. approved by
the Nevada Supreme Court, which amount is covered by a bond posted
by Mr. Cotter, Jr., in connection with his appeal.
About Reading International, Inc.
Reading International Inc. (NASDAQ: RDI), an internationally
diversified cinema and real estate company, is a leading
entertainment and real estate company, engaged in the development,
ownership and operation of cinemas and retail and commercial real
estate in the United States, Australia, and New Zealand. The family
of Reading brands includes cinema brands: Reading Cinemas, Angelika
Film Centers, Consolidated Theatres, City Cinemas, and the State
Cinema; live theatres operated by Liberty Theatres in the United
States; and signature property developments, including Newmarket
Village, Auburn Redyard, Cannon Park, and The Belmont Common in
Australia, Courtenay Central in New Zealand, and 44 Union Square in
New York City.
Additional information about Reading can be obtained from the
Company's website: http://www.readingrdi.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201006005706/en/
For investor information contact: Reading International,
Inc. Gilbert Avanes, Executive Vice President & Chief Financial
Officer Andrzej Matyczynski, Executive Vice President for Global
Operations (213) 235-2240
For media information contact: Joele Frank, Wilkinson
Brimmer Katcher Kelly Sullivan or Kara Brickman (212) 355-4449
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