CinemaStar Luxury Theaters announces extension of warrant reduction offer.SAN DIEGO--(BUSINESS WIRE)--Nov. 8, 1996--CinemaStar Luxury Theaters Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LUXY) Friday announced that it has extended its offer to its redeemable warrant holders so that such offer will expire at 5 p.m. EST P.M. also p.m. or p.m. abbr. post meridiem Usage Note: By definition, 12 a.m. on Nov. 15, 1996. Pursuant to the offer, each holder of redeemable warrants is being offered, through a prospectus dated Sept. 24, 1996, the right to acquire for $3.50 per redeemable warrant, one share of common stock and one Class B Warrant. The offer is being made only through such prospectus as it may be amended from time to time. As of Nov. 8, 1996, 85,785 redeemable warrants had been tendered for exercise pursuant to the offer. CinemaStar Luxury Theaters operates six first-run movie theaters, with a total of 54 screens, in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . The company has announced plans to open another 10-plex adjacent to the campus of the University of California, Riverside The University of California, Riverside, commonly known as UCR or UC Riverside, is a public research university and one of ten campuses of the University of California system. in mid-November. In addition, the company's international subsidiary, CinemaStar Luxury Theaters S.A. de C.V. has signed agreements to co-develop two theaters in Mexico -- a 12-plex in Guadalajara, and a 10-plex in Tijuana -- with leading business groups in that country. Both of these theaters are scheduled to open in early 1997. All of CinemaStar's theaters feature high-quality projection and audio systems, including LucasFilm's THX A design system that provides realistic sound playback for movie and home theater from THX, Ltd., San Rafael, CA (www.thx.com), an independent spin-off from Lucasfilm, Ltd. The THX Sound System was developed during the production of the Return of the Jedi in 1982 and named after George SOUND system in many auditoriums, along with luxurious amenities such as high-back reclining seats and extra wide aisles between seat rows. Additional information about the company can be found on the World Wide Web at www.Cinemastar.com. CinemaStar Luxury Theaters' common stock and warrants trade on the NASDAQ Small-Cap market under the symbols LUXY and LUXYW, respectively. CONTACT: CinemaStar, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Jon Meloan, 619/630-2011 |
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