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TGV CINEMAS AND IMAX EXPAND JOINT REVENUE SHARING AGREEMENT IN MALAYSIA
Deal Increases TGV’s IMAX Footprint in Malaysia
TGV Cinemas Sdn Bhd (TGV), one of Malaysia‟s premier film exhibition companies and IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced an expansion of the parties‟ joint revenue sharing agreement announced in October 2011 to December 2015 with the intention of extending the arrangement to other premier locations within Malaysia.
TGV currently operates its first IMAX theatre in Sunway Pyramid and will open its second IMAX theatre in a new construction project in Bandar Utama in the fall with the third theatre opening in December 2012 in an existing multiplex in Johor Bahru. The fourth and fifth IMAX theatre systems will also be located in new construction projects in the cities of Penang and Kuala Lumpur, which are slated to open by December 2013 and December 2015, respectively. Locations for the remaining three theatres will be determined by both parties at a later date.
“IMAX‟s immersive experience makes our guests feel like they‟re a part of the movies – something no other cinematic format or in-home entertainment option can replicate,” said Kenny Wong, CEO of TGV Cinemas. “Our first IMAX theatre has been a tremendous success and we are keen to build on this momentum with today‟s agreement. We‟re confident that our new IMAX theatres will continue to strengthen our business and delight our guests.”
“With a large population and growing middle-class fueling consumer demand for entertainment options, Malaysia is a key area of growth for IMAX in the Asia Pacific region,” said IMAX CEO Richard L. Gelfond. “It is great to see TGV already realizing value from its first IMAX theatre in such a short period of time and together we look forward to bringing our unparalleled movie-going experience to more audiences throughout Malaysia.”
“We are pleased to expand our relationship with TGV – a strategic partner that is committed to delivering the best cinematic experiences and developing IMAX as a premium brand in Malaysia,” said Don Savant, Senior Vice President and Managing Director, Asia Pacific. “With today‟s agreement, TGV will bring IMAX theatres into high-growth areas further supporting our expansion efforts in this key part of Southeast Asia.”
About TGV Cinemas
TGV Cinemas Sdn Bhd (TGV) is a wholly-owned subsidiary of Tanjong Public Limited Company (www.tanjongplc.com). Tanjong is incorporated in England and is an investment holding company with interests in leisure and property investment. Since its inception in 1995, TGV pioneered the multiplex cinema concept and has grown to become one of Malaysia‟s premier film exhibition companies with 141 screens homed in 18 multiplexes located at major cities. Today TGV continues to bring new frontiers to its cinema-goers by being the first to introduce the „Beanieplex‟ movie hall which is Malaysia‟s first and only cinema hall featuring bean bag seats and TGV Club, a premier concept complete with exclusive club halls, lounge areas and superior services. TGV will soon expand nationwide with new cinema openings in One Utama, Cheras Sentral, Setia Walk and Station 18 by the end of 2012. More information about the Company can be found at www.tgv.com.my. You may also connect with TGV on Facebook (www.facebook.com/TGVCinemas) and Twitter (www.twitter.com/tgvcinemas).
About IMAX Corporation
IMAX Corporation is one of the world’s leading entertainment and technology companies, specializing in the creation and delivery of premium, awe-inspiring entertainment experiences. With a growing suite of cutting-edge motion picture and sound technologies, and a globally recognized entertainment brand, IMAX is singularly situated at the convergence of the entertainment industry, innovation and the digital media world. The industry’s top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and as such, the IMAX network is among the most important and successful theatrical distribution platforms for major event films around the globe. The Company’s new digital projection and sound systems – combined with a growing blockbuster film slate – are fueling the rapid expansion of the IMAX network in established markets such as North America, Western Europe, and Japan, as well as emerging markets such as China and Russia. IMAX deliver the world’s best cinematic presentations using proprietary IMAX®, IMAX 3D®, and IMAX DMR® (Digital Re-Mastering) technologies. IMAX DMR enables virtually any motion picture to be transformed into the unparalleled image and sound quality of The IMAX Experience®.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of March 31, 2012, there were 643 IMAX theatres (510 commercial multiplex, 20 commercial destination and 113 institutional) in 52 countries. IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience® and The IMAX Experience® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax) and YouTube (www.youtube.com/imaxmovies).
