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AMC Entertainment Holdings, Inc. Announces Special Dividend on AMC Preferred Stock Units

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Kang Leewood–(business wire)–AMC Entertainment Holdings, Inc. (NYSE: AMC) (“Company” or “AMC”) today announced that it has declared a special dividend of one AMC Preferred Stock Unit (“AMC Preferred Stock Unit”). did. For each share of AMC Class A common stock outstanding at the close of business on August 15, 2022, with a par value of $0.01 per share (“Common Stock”). The special dividend he will be paid at the close of business in August. January 19, 2022.

The Company has applied to list its AMC Preferred Stock Units on the New York Stock Exchange (“NYSE”) under the symbol “APE” beginning August 22, 2022, each AMC Preferred Stock Unit comprising one share of common stock. stock.

AMC Preferred Stock Units may be converted into common stock, provided that the Company proposes an increase in the number of authorized shares of its common stock in an amount at least sufficient to permit the conversion of the AMC Preferred Stock Units and votes approved by the investors. only if you do Converts to common stock (through a “Common Stock Amendment”).

Commenting on the dividend, AMC Entertainment Chairman and CEO Adam Aron said: NYSE under the ticker symbol APE. Shareholders will receive one unit of AMC preferred stock for each outstanding share of AMC common stock they own. This means that 516,820,595 AMC preferred stock dividends will be issued based on 516,820,595 outstanding shares. ”

“The issuance of tradable AMC Preferred Stock Units to shareholders only will clarify who is included in our current shareholder base and provide an opportunity for investors to participate in AMC’s ongoing recovery and growth,” said Aron. We offer you another way.”

Aron emphasizes: The new AMC Preferred Stock will provide AMC with a future-proof currency and strengthen its balance sheet, including by repaying debt and raising new capital. As a result, AMC’s short-term survival risk is dramatically reduced, allowing them to continue to survive this pandemic. It also provides additional capital to AMC to enable it to seek out potential investment opportunities that create significant shareholder value and are potentially transformative in nature. Not good news for some. ”

Aaron continued, “As a token of our appreciation to our shareholders and to celebrate the dividend of this AMC preferred stock unit, AMC will issue an exclusive ‘I OWN APE’ NFT. All 765,000 current AMC Investor Connect members, and new members who join by August 31, 2022, will receive this unique His NFT for free, symbolizing their new ownership of AMC Preferred Stock Unit Security I am eligible. Additionally, based on the popularity of the original “I OWN AMC” NFT published in January 2022, current members of AMC Investor Connect and his new members joining by August 31, 2022 will also receive the original You are eligible to receive updates. “I own AMC” is NFT.

“This AMC Preferred Equity unit dividend has significant potential to create meaningful value for both AMC and our shareholders,” said Aaron.

The issuance of AMC Preferred Stock Units will be made possible by the approvals granted by shareholders to issue AMC Preferred Stock in 2013. Each AMC Preferred Stock Unit is a depositary share and represents a one-hundredth (1/100) interest in shares. Issuance of our Series A Convertible Participating Preferred Stock (“Preferred Stock”). Each share of preferred stock may be converted into 100 shares of common stock.

If the Common Stock Amendment is adopted by shareholders, each AMC Preferred Stock Unit will convert to one share of Common Stock, which will be distributed one for one (one share) to the holders of the AMC Preferred Stock Units upon conversion. increase. shares of common stock of each AMC Preferred Stock Unit held).

The record date for dividends on AMC Preferred Stock Units is the close of business on August 15, 2022. However, dividends on AMC Preferred Stock Units are expected to be paid at the close of business on August 19, 2022. August 22, 2022 is the ex-dividend date. If an investor sells shares of our common stock prior to his ex-dividend date of August 22, 2022, that investor will not be entitled to any dividends of his AMC Preferred Stock Units on the shares sold. Alternatively, if investors purchase shares of our common stock prior to the August 22, 2022 dividend date, they will be entitled to receive dividends of AMC Preferred Stock Units on the shares purchased. Investors trading during this period should consult their broker.

AMC Preferred Stock Units will begin trading on August 22, 2022 (the ex-dividend date), at which time AMC Shares will no longer be eligible to receive dividends on AMC Preferred Stock Units. Investors should be aware that the price of AMC common stock is likely to decline on the ex-dividend date (August 22, 2022). This is to reflect the fact that shares purchased after that date will no longer be eligible to receive dividends.

Additional information regarding AMC preferred stock units, preferred stock, and the potential for conversion of preferred stock into common stock is available on our website at http://investor.amctheatres.com/stock-information/APE-Dividend-Info and See our current report on Form 8-K filed today with the Trade Commission. Descriptions of AMC Preferred Stock Units and Preferred Stock are qualified by reference to the Disclosure and Exhibits on Form 8-K.

About AMC Entertainment Holdings

AMC is the largest movie theater in the United States, Europe and the world, with approximately 950 theaters and 10,500 screens worldwide. AMC has driven innovation in the exhibition industry by: Offer enhanced food and beverage choices. Increase guest engagement through loyalty and subscription programs, websites and mobile apps. It offers a premium large format experience and plays a variety of content including the latest Hollywood releases and independent programming.

Forward-Looking Statements

This notice contains “forward-looking statements” within the meaning of federal securities laws. Statements that are not historical facts, including statements about AMC’s beliefs and expectations, are forward-looking statements. In many cases, these forward-looking statements are “will,” “could,” “could,” “could,” “should,” “believe,” ” expect, predict, estimate, intend, indicate, project, goal, aim, target, predict, plan, seek ”, and variations and similar expressions of these words. Examples of forward-looking statements include future stockholder distributions, listing of AMC preferred stock units on the New York Stock Exchange for trading and common stock amendments, future balance sheet enhancements including debt repayments, future capital and Includes statements by the Company regarding investment opportunities and potential. Shareholder value and potential recovery and transformation.

Other factors that could cause our results to differ materially from those set forth in the forward-looking statements, including developments related to COVID-19, are included in our most recent Annual Report on Form 10-K under the caption “ factors” and elsewhere. Quarterly reports on Form 10-Q and other filings with the U.S. Securities and Exchange Commission (“SEC”). Website at www.sec.gov.

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 are not guarantees of future performance or results and do not necessarily indicate precisely when or when such performance or results will be achieved. AMC does not intend and undertakes no obligation to update the information contained herein to reflect future events or circumstances, except as required by applicable law.

Category: Company Release

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