AMC Entertainment Holdings, Inc. (NYSE: AMC and APE) (“AMC” or
“the Company”), the largest theatrical exhibition company in the
world, announced today that it will host a listen-only webcast of
its Special Meeting of Stockholders on Tuesday, March 14, 2023, at
11:00 AM CDT.
The Company will host a listen-only webcast accessible through
the Investor Relations section of AMC’s website at
https://investor.amctheatres.com/financial-performance/Shareholder-Meeting-Information/.
Investors and interested parties should go to the website
(https://investor.amctheatres.com/financial-performance/Shareholder-Meeting-Information/)
at least 15 minutes before the earnings webcast to register, and/or
download and install any necessary audio software.
- Tuesday, March 14, 2023
- Time: 11:00 AM CDT / 12:00 PM EDT
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe, and the largest throughout the world
with approximately 950 theatres and 10,500 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, website, and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
www.amctheatres.com.
Website Information
This press release, along with other news about AMC, is
available at www.amctheatres.com. We routinely post information
that may be important to investors in the Investor Relations
section of our website, www.investor.amctheatres.com. We use this
website as a means of disclosing material, non-public information
and for complying with our disclosure obligations under Regulation
FD, and we encourage investors to consult that section of our
website regularly for important information about AMC. The
information contained on, or that may be accessed through, our
website is not incorporated by reference into, and is not a part
of, this document. Investors interested in automatically receiving
news and information when posted to our website can also visit
www.investor.amctheatres.com to sign up for email alerts.
Additional Information and Where to Find It
This communication may be deemed solicitation material in
respect of the Special Meeting of Stockholders (the "Special Meeting") of AMC Entertainment Holdings,
Inc. ("AMC" or the "Company") scheduled to be held on March 14, 2023
to vote on amendments to the Company's Certificate of Incorporation
that, together, if approved will enable all outstanding AMC
Preferred Equity Units ("APEs") to
convert into shares of the Company's Class A common stock, par
value $0.01 per share (the "Common
Stock") as a result of an increase the number of authorized
shares of Common Stock and a 10-for-1 reverse split of the Common
Stock. This communication does not constitute a solicitation of any
vote or approval of the proposals to be voted on at the Special
Meeting. In connection with the Special Meeting, the Company filed
with the Securities and Exchange Commission (the "SEC") and mailed to its stockholders a proxy
statement regarding the business to be conducted at the Special
Meeting. The Company may also file other documents with the SEC
regarding the business to be conducted at the Special Meeting. This
communication is not a substitute for the proxy statement or any
other document that may be filed by the Company with the SEC.
BEFORE MAKING ANY VOTING DECISION, THE COMPANY'S STOCKHOLDERS
ARE URGED TO READ THE PROXY STATEMENT AND ANY AMENDMENTS THERETO
(WHEN AVAILABLE) IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED OR
TO BE FILED BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE
BUSINESS TO BE CONDUCTED AT THE SPECIAL MEETING BEFORE MAKING ANY
VOTING OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS TO BE
CONDUCTED AT THE SPECIAL MEETING BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT THE BUSINESS TO BE CONDUCTED AT THE SPECIAL
MEETING.
Stockholders may obtain a free copy of the proxy statement and
other documents the Company files with the SEC (when available)
through the website maintained by the SEC at www.sec.gov
<http://www.sec.gov>. The Company makes available free of
charge on its investor relations website at
www.investor.amctheatres.com
<http://www.investor.amctheatres.com> copies of materials it
files with, or furnishes to, the SEC.
Participants in the Solicitation
The Company and its directors, executive officers and certain
employees and other persons may be deemed to be participants in the
solicitation of proxies from the Company's stockholders in
connection with the business to be conducted at the Special
Meeting. Investors and security holders may obtain more detailed
information regarding the names, affiliations and interests of the
Company's directors and executive officers in the definitive proxy
statement filed in connection with the Special Meeting, which may
be obtained free of charge from the sources indicated above. To the
extent the holdings of the Company's securities by the Company's
directors and executive officers have changed since the amounts set
forth in the definitive proxy statement, such changes have been or
will be reflected on Statements of Change in Ownership on Form 4
filed with the SEC.
Forward Looking Statements
This communication includes "forward-looking statements" within
the meaning of the federal securities laws, including the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. In many cases, these forward-looking statements may be
identified by the use of words such as "will," "may," "could,"
"would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "indicates," "projects," "goals,"
"objectives," "targets," "predicts," "plans," "seeks," and
variations of these words and similar expressions. Examples of
forward-looking statements include statements we make regarding the
impact of COVID_19, future attendance and box office levels, our
liquidity, and the potential conversion of APEs into shares of
Common Stock. Any forward-looking statement speaks only as of the
date on which it is made. These forward-looking statements may
include, among other things, statements related to AMC's current
expectations regarding the performance of its business, financial
results, liquidity and capital resources, and the impact to its
business and financial condition of, and measures being taken in
response to, the COVID-19 virus, and are based on information
available at the time the statements are made and/or management's
good faith belief as of that time with respect to future events,
and are subject to risks, trends, uncertainties and other facts
that could cause actual performance or results to differ materially
from those expressed in or suggested by the forward-looking
statements. These risks, trends, uncertainties and facts include,
but are not limited to, risks related to: the risk that required
approvals from AMC's stockholders are not obtained at AMC's special
meeting, currently set to be held on March 14, 2023 (the "Special
Meeting"); on February 20, 2023, stockholders commenced litigation
seeking to prevent the conversion of AMC Preferred Equity Units
into common stock without separate common stock class approval at
the Special Meeting, which will delay and if successful (or if
additional litigation is commenced and successful) could prevent
the conversion of the AMC Preferred Equity Units into common stock,
impede our ability to raise additional funds and materially and
adversely impact market prices and the value of the AMC Preferred
Equity Units and common stock; the risks and uncertainties relating
to the sufficiency of AMC's existing cash and cash equivalents and
available borrowing capacity; AMC's ability to obtain additional
liquidity, which if not realized or insufficient to generate the
material amounts of additional liquidity that will be required
unless it is able to achieve more normalized levels of operating
revenues, likely would result with AMC seeking an in-court or
out-of-court restructuring of its liabilities; the impact of the
COVID-19 virus on AMC, the motion picture exhibition industry, and
the economy in general; the seasonality of AMC's revenue and
working capital; the continued recovery of the North American and
international box office; AMC's significant indebtedness, including
its borrowing capacity and its ability to meet its financial
maintenance and other covenants; AMC's ability to achieve expected
synergies, benefits and performance from its strategic initiatives;
motion picture production and performance; AMC's lack of control
over distributors of films; intense competition in the geographic
areas in which AMC operates; increased use of alternative film
delivery methods or other forms of entertainment; shrinking
exclusive theatrical release window; AMC's ability to optimize its
theatre circuit; general and international economic, political,
regulatory and other risks; limitations on the availability of
capital; AMC's ability to refinance its indebtedness on favorable
terms; availability of financing upon favorable terms or at all;
risks relating to impairment losses, including with respect to
goodwill and other intangibles, and theatre and other closure
charges; AMC's ability to recognize interest deduction
carryforwards, net operating loss carryforwards, and other tax
attributes to reduce future tax liability; supply chain
disruptions, labor shortages, increased cost and inflation; and
other factors discussed in the reports AMC has filed with the SEC.
Should one or more of these risks, trends, uncertainties, or facts
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated or
anticipated by the forward-looking statements contained herein.
Accordingly, you are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date they
are made. Forward-looking statements should not be read as a
guarantee of future performance or results and will not necessarily
be accurate indications of the times at, or by, which such
performance or results will be achieved. For a detailed discussion
of risks, trends and uncertainties facing AMC, see the section
entitled "Risk Factors" in AMC's Form 10-K for the year ended
December 31, 2022, as filed with the SEC, and the risks, trends and
uncertainties identified in AMC's other public filings. AMC does
not intend, and undertakes no duty, to update any information
contained herein to reflect future events or circumstances, except
as required by applicable law.
Category: Company Release
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version on businesswire.com: https://www.businesswire.com/news/home/20230313005286/en/
INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
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