Article Excerpt:
TWST: We would like to begin with a brief historical sketch of the company and a picture of the things you are doing at the present time?Mr. Jacob: Cineplex Galaxy Income Fund was formed in November 2003 when we merged the assets of Cineplex Odeon into Galaxy to form the fund. Our company is in the movie exhibition business in Canada and one of the leading movie exhibitors in the country with over 30% market share.
TWST: Did you make any changes in direction in 2003?
Mr. Jacob: When we merged the two companies, we went with best practices
for both organizations and put together a very strong management team,
which resulted in superior performance for the company and the
unitholders. We issued the stock at $10 back in November 2003, with a
yield of 11.5%, and the stock has since appreciated to $14, giving
investors an over 50% return in 18 months.
Tickers included in this excerpt: CGX_UN:TSX
TWST Newsletter
For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.