The diversified cinema and real estate company Reading International Inc. (RDI) saw its shares falling by 8.13% to $5.65 from previous price of $6.15.
The company which owns, develops, and operates in entertainment and real estate assets in the United States, Australia, and New Zealand recently reported that the James J. Cotter Living Trust has signed into a 10b5-1 trading plan with the RDI to sell up to 276,000 Class A Non-Voting Common Stock shares. The trading agreement will take place over the period from 25 January 2021 to 4 June 2021, including 4 June 2021, or an early date when all such securities will be sold, unless the trading plan is terminated earlier in its terms and conditions.
The Firm is informed that the aim of these planned sales according to the Trading Plan, like the 10b5-1 financial strategy adopted in 2020 by the Living Trust Co-Trustees, is to provide collateral to pay such property taxes to the Estate of James J. Cotter pursuant to the terms of the Estate Framework with the Internal Revenue Service, as well as to cover other obligations of the Living Tr.
Among other items, the Trading Scheme requires that such transactions follow the specifications of Rule 144 of the Securities Act. The Co-Trustees of the Living Trust are Ellen Cotter, the Founder and Chief Financial Officer of the Firm, and Margaret Cotter, the Chair and Executive Vice President of the Company’s Real Estate Investment and Growth NYC.
Reading International Inc. (RDI) has also announced the arrival of Angelika Anywhere, a video platform influenced by its Angelika Film Center in New York City, the most acclaimed dedicated arthouse in North America, curated for film lovers.
The Angelika flagship SoHo cinema has been debuting and celebrating ground-breaking indie and foreign films since its establishment in 1989, many of which have been substantial finest examples in the overall cinema industry. Tom Tykwer’s Run Lola Run, Ryan Coogler’s Fruitvale Station, The Blair Witch Project, and Darren Aronofsky’s Pi, are among these distinguished names, which also includes Oscar winners like Searching for Sugar Man and Sebastián Lelio’s A Fantastic Woman.