Vista Group to Acquire Controlling Stake in Vista China

Vista Group to Acquire Controlling Stake in Vista China Vista Group International Limited ('Vista') is pleased to announce that it has today entered into an agreement to acquire a further 14.5% of Vista Entertainment Solutions (Shanghai) Limited ('Vista China') from its fellow shareholder Beijing Weying Technology Co. Ltd ('WePiao') to give it a controlling 62% stake in the entity. Vista Group Chief Executive, Kimbal Riley stated: "We are delighted to increase our stake in Vista China. Vista Group is committed to global leadership in software and data solutions for the film industry - and this transaction supports that." "China is a tremendous prospect for Vista Group. 12 of the world's top 20 cinema exhibitor chains operate in that market, the 2019 box office in China has already exceeded that of 2018 and cinemas are being built at such a rate that by 2021 there is expected to be almost twice as many cinema screens in China as there are in the USA." "Vista China has more than doubled its revenue since the venture with WePiao was established in 2016 and the company is anticipated to be EBITDA positive in 2020." "This transaction will enable Vista Group to have greater control over the strategic direction of Vista China and to take advantage of the opportunities that arise in that market." The transaction values Vista China at RMB500m and is conditional, amongst other things, on receipt of approvals from Chinese regulatory authorities, which are expected to be received during the first half of 2020. Vista Group will provide further updates in due course as the transaction progresses. Kimbal Riley Group Chief Executive Vista Group International Ltd Contact: +64 9 984 4570 End CA:00346441 For:VGL Type:GENERAL Time:2019-12-20 16:22:32